The Fitzburgh Realty Team - Glassell Park Real Estate - Northeast Los Angeles Realtor
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As a Buyer, how much should I offer? How high should I go?
Try this mental exercise to figure out the right "highest and best" price to offer:
Come up with a purchase price and then imagine finding out the seller decided to accept a different offer.  How you would feel?
What if you found out the final price was $5k more than your price? Would you feel disappointed and wish that you would have gone $5k higher? If so then this mental exercise is telling you that your number should be increased by $5k.

On the other hand, if your reaction would be more like- "Well we gave this our best shot and for the higher price I guess it's best that someone else gets it because we feel that we can find a better value if we keep looking."

If your feeling is more like the latter then you are at the right price to offer.

The goal is to figure out a price to offer that really is your "highest and best" and that if a different buyer is willing to pay more than it would be "okay".  Sure you wish your offer was accepted but you feel that you "did your best" and that's all you can do and that a better value is still out there.

Then there is the "acceleration clause" where you indicate that you will a certain amount "higher" than the next best offer.

For Example:
"Purchase Price is to be $5,000 more than the next highest Purchase Price offered but our Purchase Price is not to exceed $700,000"
This enables you to set an upper limit but make sure you don't "miss out" to another buyer unless the other buyer goes above your absolute maximum price.
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Brian Fitzburgh, Broker/Owner
Cell: (818) 571-9712
Office: (424) 625-0747

Hello@BrokersTrust.com
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2022 Zillow Premier 5 Star Agent in Los Angeles. Parrish Ave., Los Angeles, CA. CalDRE# 01875767. Copyright © 2022 Brokers Trust Real Estate Group. All Rights Reserved.
  • Home
  • About Us
    • Fitzburgh Realty Team >
      • Juan Loza Handyman
    • Brians Resume | Sellers
    • Brians Resume | Buyers
    • Home Tours
    • Testimonials
    • Upcoming Events
  • Search Homes
  • Explore NELA
    • Glassell Park
  • Homes Fur All
    • News
    • Super A Test
    • Bark & Meow Fan Club
    • Concerts in the Park
    • Eagle Rock Bark >
      • ERB Walk At The Bark
      • Eagle Rock Bark 2017
      • Eagle Rock Bark 2018
      • Eagle Rock Bark 2019
    • Glassell Bark >
      • GB Walk At The Bark
      • Glassell Bark 2017
      • Glassell Bark 2018
      • Glassell Bark 2019
    • Glassell Park Easter Egg Hunt
    • GLASSELL PARK TREE LIGHTING >
      • XMAS TREE LIGHTING 2017
      • XMAS TREE LIGHTING 2018
    • Growing Caring Sharing News
    • 4 Weeks 4 Life
    • Fostering Resources
    • Pet Food Drive
    • Pet Resource Guide
    • Pet Adoption Hall of Fame
    • Spread The Word
    • Super Party >
      • Super Party Photos
  • Resources
    • Brian' s Crystal Ball >
      • Brian' s Crystal Ball Appetizer
      • Brian' s Crystal Ball 1st Main
      • Brian' s Crystal Ball 2nd Main
      • Brian' s Crystal Ball Dessert
      • Furball Challenge
    • First Time Homebuyers >
      • Credit Score
      • Down Payment
    • Get Your Loan Pre-Approval
    • Request a Free Market Analysis
    • Mortgage Calculator & Rates
    • How Much House Can I Afford
    • Real Estate Market Trends
    • Neighborhood Search Tools
    • MLS Activity Alert
    • Client Documents & Calendar
    • FAQ
  • Brian's Blog
  • Contact us
    • Coverage Area