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The Home Tour and Making an Offer
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The Home Tour and Making an Offer - BUYERS

Set up appointments with sellers or their agents once you've found houses to investigate. Take a drive around the neighborhood and note the condition of neighboring homes and the convenience to work, shopping and schools.

Feel free to ask questions when touring the home. The more information you can get during the tour, the better position you will be in when you make an offer and negotiate. Be prepared to make an offer soon after touring the house if you think it is a hot property. You're competing with other buyers for good deals, and a house in good condition at a reasonable price may go quickly in a seller's market. Some questions that can help you determine if a quick bid is wise:

  • Time on the market. You may have more time to make an offer if the house has been on the market for a month or more.
  • Price. A house priced lower than similar houses is likely to go quickly. A low price could also mean the house has some problems.
  • Previous offers. Owners of popular houses often receive two or more offers. You may be able to make a better offer if the seller hasn't already accepted a bid.

Take your time if you believe a property isn't likely to sell quickly. Feel free to visit a house more than once to make sure it's the right one. Once you make an offer and it's accepted, you are legally bound to buy the house unless an unexpected problem arises, such as an unfavorable inspection or failure to secure financing.

Copyright Writers Opinion LLC 2010