It is important for buyers to know and understand for whom the agent helping with the house hunting is actually working. If you are not sure who your agent is working for - ask for clarification. Before you make an offer to purchase that special home, you must have a good idea what the market value is to ensure you do not overpay. Your agent can prepare a Comparative Market Analysis showing what similar homes have recently sold for, and the difference between the asking and selling prices. This is the same type of report the seller receives when deciding on an asking price.
Many buyers think that the way to achieve a fair purchase price is by offering low.
This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Remember, in the real estate business, an agent with many successfully closed transactions usually costs the same as someone who is inexperienced. That experience could mean a better deal at the negotiating table with a minimum amount of hassles. Buying a home is a major purchase usually made after spending just half an hour looking at the home. It is important to understand completely the terms of the Offer to Purchase.