2torial #0935:
Learn2 Buy a Home (continued)

Make a bid

At some point you'll see a place, and though you may not think it's perfect, you'll know it's a good fit. Now it's time to make an offer.

Bidding on a home is the trickiest part of the buying process. Bid too low, and you may lose your chance. Bid too high, and you could be paying for your mistake for the next 30 years.

During the bidding process, you'll really test the mettle of your realtor. A good realtor will survey the market and offer you two different potential bids: what the house is worth given the current market, and what the house is likely to sell for.

These may be two widely different figures. For example, if a seller is in a big hurry, the price may be lower than average. If lots of other buyers are interested, the price is likely to rise above overall market levels. Discuss the current market with your realtor to determine your offer.