Oct. 31, 2012
You have been searching high and low, and finally found what could just be that perfect family home, in the exact right neighborhood – close to one of Henderson’s famous beautiful parks, a great school, and an easy commute to your job in Las Vegas. Your financing is in order and you’re ready to make an offer. Now what? With the help of your real estate agent, you can together weight the three most important factors that will help you determine if you should go forward with your bid. You may have heard of each of them from time to time as you began your search. Let’s look at them a little more in depth.
Of course, you want a price that fits within your budget – but you also want a price that’s fair for the area and value of the property you intend to buy. Your agent, plus a little bit of homework, should help you determine what is a fair price for the house’s condition in relation to the others nearby. Other factors to consider include (of course) location, amenities, and upkeep.
Terms may include other costs, such as closing and HOA fees, as well as the timing of the funding and down payments. These are only a few – your agent will work with you, your finance company, and the seller to ensure you are all on the same page.
Contingencies are all those little (and sometimes big) things that either the seller or the buyer requires before a house sale may be completed. On the side of the seller, he or she may require that the buyer have funds secured within a certain time limit. The buyer could require an inspection within a specified time, certain repairs be done, and/or a clear title history. These are just a few of the contingencies. Be sure to ask a lot of questions and remember to utilize the expertise of your real estate agent.
Weigh the options
Under normal circumstances, the combination of these factors should not be a deal breaker – but it has been known to happen. Your best bet is to ensure that you have an informed, experienced professional agent who is willing and able to answer your questions and keep you in the loop. Armed with all the information, your decision should be an easy one. Remember, your agent wants you to be happy with your purchase every bit as much as you do!