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When
you
prepare
an
offer
to
purchase
a
home,
you
already
know
the
seller’s
asking
price.
But
what
price
are
you
going
to
offer
and
how
do
you
come
up
with
that
figure?
Determining
your
offer
price
is
a
three-step
process.
First,
you
look
at
recent
sales
of
similar
properties
to
come
up
with
a
price
range.
Then,
you
analyze
additional
data,
such
as
the
condition
of
the
home,
improvements
made
to
the
property,
current
market
conditions,
and
the
circumstances
of
the
seller.
This
will
help
you
settle
on
a
price
you
think
would
be
fair
to
pay
for
the
home.
Finally,
depending
on
your
negotiating
style,
you
adjust
your
"fair"
price
and
come
up
with
what
you
want
to
put
in
your
offer.
Comparable
Sales
The
first
step
in
determining
the
price
you
are
willing
to
offer
is
to
look
at
the
recent
sales
of
similar
homes.
These
are
called
"comparable
sales."
Comparable
sales
are
recent
sales
of
homes
that
compare
closely
to
the
one
you
are
looking
to
purchase.
Specifically,
you
want
to
compare
prices
of
homes
that
are
similar
in
square
footage,
number
of
bedrooms
and
bathrooms,
garage
space,
lot
size,
and
type
of
construction.
If
the
home
you
are
interested
in
is
part
of
a
tract
of
homes,
then
you
will
most
likely
find
some
exact
model
matches
to
compare
against
one
another.
There
are
three
main
sources
of
information
on
comparable
sales,
all
of
which
are
easily
accessed
by
a
real
estate
agent.
It
is
somewhat
more
difficult
for
the
general
public
to
access
this
data,
and
in
some
cases
impossible.
Two
of
the
most
obvious
information
sources
are
the
public
record
and
the
Multiple
Listing
Service. |
