What is the Right Price to Offer for a Home in Lethbridge Alberta Canada? Learn from Experienced Lethbridge Real Estate Expert Courtney Atkinson

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November 4, 2009, by Courtney Atkinson in Home Buying Process

Once you've found a Lethbridge home you're interested in purchasing, the next step is putting an offer on the table with the help of your trusted Lethbridge real estate expert. But how do you determine that right price for homes in Lethbridge Alberta Canada? In this article, I'll show you exactly what you should consider when you're picking a number for your offer.

Tip 1 Understand the Lethbridge Alberta Canada Real Estate Conditions

The first step is to consider what the market conditions are. The Lethbridge real estate market has had both upswings and downswings in the last several years. Is it a buyer's market, a seller's market, or a balanced market right now? Is a house likely to sit on the market for weeks or months, or is it likely to receive multiple offers within the first week and sell for a few thousand over list price?

Look into what other similar houses in the area are selling for, both currently and in the last few months. This will give you a good baseline value to base your offer on. If homes like this have been in high demand as of late, this will mean you will have to pay more. If homes like this haven't been so popular, you may be able to save a few thousand dollars with the help of your Lethbridge real estate agent.

Tip 2 Understand the Seller's Mindset

The goal of making an offer isn't to offer market price. The goal of your offer is to make an offer that's as low as possible that will be accepted by the seller. This assures you maximum value for the home and will help you get a few extra dollars when the time comes to sell or refinance.

One thing to look into might be how long the house has been listed. If it's been listed for several months already, they may be more likely to want to sell for a lower price.

What is the design of the home? Is it the type of layout that will appeal to a number of people?

How about the neighbourhood the home is located in? Will many people want to live there?

Another thing to look into is how much the seller paid for the property. Although this doesn't affect its current value, it has an impact on the seller's mentality. If the seller is already making a profit no matter how much they sell it for, they're likely to be more lenient. If they're losing big money by selling right now, they may be more likely to pinch pennies.

Tip 3 It's Not Just the Numbers

Your offer must be considered in its entirety. The clauses and contingencies have a big impact on whether or not your offer will be accepted. Work with your real estate agent to craft the best offer possible. This will involve the perfect combination of price, downpayment, terms, inclusions, possession date, conditions, and more that will best represent your interests while engaging the Seller in a discussion about the sale of the property without insulting them, but showing them that you're not willing to pay more than you should.

There is a lot of property for sale in Lethbridge and having a Lethbridge real estate professional on your team can help you to navigate the difficult process of buying and selling. Call me at 403.795.7777 or email me at info@courtneyatkinson.ca to discuss Lethbridge real estate or Lethbridge land for sale and I will be more than happy to answer all your questions. Or, if you would like instant access to information about the Lethbridge real estate market including current Lethbridge homes for sale, Lethbridge property values and more, please visit the most complete website dedicated to everything Lethbridge real estate at http://www.courtneyatkinson.ca.