Terms of Use - REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA. The information contained on this site is based in whole or in part on information that is provided by members, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility. The listing content on this website is protected by copyright and other laws, and is intended solely for the private use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, “screen scraping”, “database scraping”, and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
DeclineAccept

Oliver Reprich

Oliver Reprich Muskoka REALTOR

What's the best way to decide how much to offer for a house?

Once you've found a house you like and have the financial resources to buy it, you must decide how much to offer. In putting together your actual offer, consider the following factors:

The Advertised Price Of The House.

Treat this as only a rough estimate of what the seller would like to receive, and recognize that different sellers price houses very differently. Some sellers deliberately overprice, others ask for pretty close to what they hope to get and a few (often the cleverest) under-price their houses in the hope that potential buyers will compete and overbid.

What You Can Afford.

What you can pay for a house will probably depend on how much you already have in cash and how much you can reasonably borrow in a mortgage. When figuring out the cost of the house, be sure to factor in your share of the closing costs, which will be about 2%-5% of the purchase price.

What is the House Worth.

This is the most important factor, as you do not wish to offer and land up paying more for the property then what it is worth. Here one does a comparative market analysis, and if you don't know how to do one of those, don't worry that is what you have a realtor for.


More common questions related to the topic: Buying Property

Is right now a good time to buy?

Buy first or sell first?

Where can I get my well water tested?

What is title insurance?

Why should I buy a home, instead of renting?

What is a home inspection and should I have one done?

What should I expect from an open house?

What is a "Buyer's Agent"?

What if my offer is rejected?

What is the Land Transfer Tax Rate in Muskoka?

Land Transfer Tax Refund for First-time Homebuyers

I own a parcel of vacant land that I wish to subdivide into parts in order to sell the parts separately. Does the HST apply to these sales? 

The sale of the severed portion of vacant land would not be subject to GST/HST since it is not capital property used primarily (more than 50%) in a business and it is not being sold in the course of a business. However, if the land was subdivided into more than two parts, sales of the severed portions are not exempt unless the portion is sold to a relative (or to a former spouse or common-law partner) for their personal use.

What does it cost as a buyer to use a Sales Representative?

Can my Sales Representative give me information regarding properties from other companies?

Why do I need to sign a Working with a REALTOR® form?

Do you qualify for Land Transfer Tax Refunds for First-Time Homebuyers

When do I get my keys, of the house I purchased?

Do you understand responsibilities of owning a condo?

Before you buy a condo.

Monthly common expense fees of Condo Corporation

Reserve fund of a Condo Corporation

Can I withhold my condo fees until urgent repairs are carried out in my unit? 

How Big Should the Room Be To Fit A King Size Bed?

If I have title insurance, why do I need a survey plan?

Ask your own Question.

MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

Bracebridge Realty, your trusted local real estate brokerage in the "Heart of Muskoka"

Log In