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There is really no rule to use in
calculating an initial offer.
Naturally, the buyer wants the best value and the seller want the best
price, but negotiations can be influenced by many factors, such as a
seller who may be changing jobs and wants to sell quickly, or a buyer
who is set on a specific home.
After you've looked at the home's
features, asked questions, checked comparables,
and talked about it with your sales professional, you should have a good
idea of what the home's value is in the current market. Consider what
you can afford, and make an offer that you consider to be fair.
Most buyers and
sellers negotiate on price, with both sides "giving" a little until both
agree.
At that point, you typically will
begin the process of arranging for an inspection
and applying for a mortgage. See the "Financing" section of this book
for more information. | 
