When you find a new house to buy, you will need to make a written offer to purchase it. You will need to know the form the offer will take and this will depend on the state in which you live. In some states, the offer might be a very simple statement that says you will take the offer for a certain amount of money. After that the seller of the house will need to write a draft contract. Other states require a complete offer that the seller can be able to sign.
It is you and the market that will decide the worth of the house that you are buying. What is advertised is just a place to start and therefore it will be you to determine whether to pay less, more or the exact price of the offer as stipulated. This decision will be affected by several factors including the amount of money similar houses have been sold at, the aesthetic of the house and its appeal to an average buyer and whether there are other buyers on the market who have shown interest in that particular house.
The seller’s needs will also influence the amount you will pay for the house. He or she might need to move out of the house quickly or the house might have been on the market for quite a long time and therefore the seller wants to unload it really fast. In such a situation you may pay a lower amount for the house. Your budget is also very important. You can only have the house if you are able to afford it.
After a careful review of all the factors that will determine the money you will pay for the house, you will either give more, less, or the exact amount of money the seller is asking for. At that point, you will need to be more strategic. Even though you do not want to overpay, offering a price that is very low with the idea that the seller might come back later to negotiate more with you could make you lose the house to another buyer.
As buyer, you can add contingencies to the house offer. Contingencies refer to the events that have to happen within a specified time-frame for the deal on the house to be finalized. For instance, you can make the house offer contingent on financial qualifications, your ability to sell the house that you have first or the house that you are buying to pass some specific physical inspections.
The seller of the house may also include contingencies to the house offer. For instance, it could be a condition that the seller has found another house that he or she will have to buy before he or she closes that sale to you.
When buying a house, you should avoid becoming emotionally attached to it before the offer is accepted. Instead, you should have other houses in mind just in case your offer will be rejected. How to Make a Formal Offer to Buy a House in Louisiana.
Jamie Mixon
Top Louisiana Real Estate Agent
Keller Williams
The Mixon Team
1522 W. Causeway Approach
Mandeville, LA
Phone: 985-277-1063
Fax: 985-727-7001
