How to Make a Bid on a Home For Sale

Video Transcript

"Making a bid on a home can be a fairly easy exercise. I'm Richard Blake and I'm going to explain how to make a bid on a home. Once you know exactly which property that it is that you're interested in. You're going to contact your real estate agent, if you haven't already done so. A real estate agent can assist you in finding out what the values are in the neighborhood. The real estate agent will run comparables based on what's currently on the market as well as what is sold. The most important statistics that you're going to look at is what is sold in the last six months. As well as the size of the property to make sure that they're comparable to the subject property that you're most interested in. At that point in time you're going to use those numbers to substantiate the offer that you make on this home, and make sure that you don't overpay. The contracts are written according to what ever it is that your state requires. Your local real estate agent can help you with that as well. The most important thing is just that you want to make sure that you know what the sold valuables, the sold values are in the neighborhood, to make sure that you don't overpay for the home. And I can't emphasize enough how important it is to use your local real estate agent to find out those exact numbers. I'm Richard Blake happy home hunting and have a nice day."