Now it is time to analyze and ultimately decide which house you want to put offer in. If you have followed the article trail so far than there should be abundant information available for each house interested. What would be the best way to organize and analyze the information gathered? Here is one way to organize and filter out the potentials:
- Remove the houses that are absolutely-not from the pool of potential houses.
- Create a list of subjects that matters. (such as price, size, neighborhood, etc.)
- Make a table of subjects. Give weight (in points) to each subject.
- For each property in the list, give a score of 1-10 on each subject.
- Calculate weight * score for each subjects.
- Get sum of all points from all subjects which becomes total points for a property.
- Compare the result on each property. Re-adjust weight if needed.
Now it is time to decide what houses to put an offer. Consult with your real estate agent (if you have one) on price because this is one area that their experience becomes useful. Before submitting an official offer, your real estate agent can contact the seller’s real estate agent and find out seller’s expected price range and number of offers received so far. Your agent can find out whether the house/HOA is on litigation or not. If the house/HOA is on litigation, the banks won’t offer a mortgage loan.