LandThink

Let’s assume that you, the buyer, have determined the value of the seller’s property for your purposes and have calculated your buyer’s price, that is, what the property is worth to you. It’s now your job to submit a written offer that includes a specific price.

Sellers usually know more about the property they’re selling than interested buyers. My advice to buyers is to try to level this information playing field by researching a property before submitting a purchase offer.

In earlier articles, I’ve discussed the ways that sellers approach determining the value of their sale property and some of the strategies sellers use in setting an asking price.

Once a seller finds his way to a dollar number that he thinks represents the value of his property, he faces a set of decisions about asking price. Should he set an asking price higher than, equal to or less than what he believes is the value of his property?

The seller’s asking price is one step in the sell-buy process that either encourages or discourages buyers from submitting a…