Competing for House Purchase ImageAs you’re submitting offers for a house, you might wonder if the homeowner really has received the high offers they claim.

If you’re the one selling a house, your potential home buyers may ask you about the offers you have received to date.

Verification Documents of Previous Offers

However, even though there is information you need to share with them, the verifying documents of these offers are not included. You do not have to show the actual offers you’re previously received for your home.

It’s good to verbally share figures if you want to get the most for your home, but you don’t have to give them every piece of paper to back it up.

Bidding for a House

The same thing applies if you’re buying a home. You just need to take the word of the homeowner as to how much they have been offered for the house to date.

When you come across a piece of real estate that seems oddly out of range for the neighborhood, you can consult with a real estate attorney for questions. They will tell you how to proceed if you think there are other factors at work.

Pricing of an Attractive Offer

In order to make it fair and attractive for everyone, you should take a look at the neighboring properties. As a seller, this will tell you what the average price is for similar homes.

As a buyer, it will show you whether the listed price is respectable or not. If the property seems to be priced higher than other local sites, you might want to find out what the included amenities are. There may be a really good reason for this figure, especially if the property has been updated.

As a seller, keep this in mind if you are selling. Make sure you list it with all of this information so potential home buyers understand what they’re paying for.

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This is filed under Buying & Selling.

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