Suggestions in How to Determine Your Offer Price
These factors will help you to determine a fair offering price for the purchase of the home.
1) Check out recent sales of similar surrounding properties to come up with a general price range. (see Comparable Sales)
2) Analyze any additional data available about the home such as condition, improvements, current market conditions, and any other circumstances the seller may have (for example – do they need to have it sold within 3 months to transfer out of state for their job?).
3) Leave room for negotiations – You may feel you have submitted a fair offer but will the seller? Perhaps you will meet somewhere in the middle!