We all know just how much hard work finding the right home to purchase can be. Nevertheless, not everyone realizes how much work purchasing a house really is after you have found the ideal house. Let’s have a look at the process of making an offer to purchase as well as what follows from there.
When it comes to buying a house, both purchaser and seller are looking to obtain the best deal possible. Both parties should be prepared to compromise at least a little though this is not always the case. When you are thinking about how much to offer the owner of the home that you’d like to purchase there are some things that you need to consider.
The very first is just how much work there is to be done on the house. You could do a little math and work out the cost of these repairs as well as adjustments as well as subtract that from the value of the home to work out what you are prepared to offer the seller. Additionally you need to look at how much the seller has already dropped their own price from what the home is worth. You should also be able to find out from the estate broker how much they owe on the house. Many of these things are things that may impact exactly how low you can go and how low the buyer might be willing to go.
Once you have worked out what you can offer you need to look at exactly what the person selling the house is asking. In the event the selling price is around fifty thousand rand more than you’re offering you are at a great bargaining point. If your offer is a good deal lower than that you may have some difficulty convincing the seller to simply accept your offer. It is important to be sensible whenever you make your offer.
Once you have all agreed on a price it’s time to get down to the actual nitty gritty of buying a house. You will have to choose lawyers to use and what is going to stay in the house and what’s not. You might also need to decide who is going to be responsible for doing what repairs and that type of thing. All of this is going to be included in the offer to purchase document. Make sure that you are happy prior to signing as this is a lawfully binding document and you might find that you are liable for the estate agent commissions and attorney’s fees if you break the agreement.
As you can see, there are a lot of things that you need to check prior to signing on the dotted line when you’re buying a house. It is better to be a small too cautious and to make sure that you are not signing away your life and that you will get what you are paying for. Do not let your self be bullied in to doing costly repairs if the owner isn’t willing to negotiate just a little on the selling price of the house, unless of course it’s already heavily marked down that is.