When you’re ready to buy a Chetek home, it’s important to write an offer in line with the market. We’re going to share two expert tips to help you name your purchase price!
1. Ask your Six Lakes Realty agent for the “sale-to-list” ratio for homes in the same area and price range. For example, if a home was listed at $179,000, and it sold for $174,000, the seller received about 97% of the list price.
If similar homes in the neighborhood are selling for 97% of the list price, and the home you want is $184,900, then you might consider offering $179,000. (This is a hair under 97% of the list price, but you get the idea.)
Homes can sell for more or less than the sale-to-list average. Consider the home’s condition and location, too! Lakefront homes, homes with water rights, and new construction can draw higher offers. The percentage approach is a place to start, but it isn’t one-size-fits-all.
2. Ask how long the home has been on the market. Homes that are lingering on the market may have motivated sellers. Also check the home’s days-on-market against the local average. If the home has been on the market 15 days and most homes go under contract within 30, you may want to hustle!
If listings are in short supply, and you are competing against other buyers, you must strategize your approach to be the best offer on the table. We’ll have more tips about this in an upcoming post!
Ready to find your Chetek home? Six Lakes Realty offers the very best in real estate guidance! We are a locally-owned family business with over 40 years of experience. Our friendly, hometown service is just a call away!
John
Flor
Managing Broker
Six Lakes Realty
Office: (715) 924-4806
Email: john@sixlakesrealty.com
