Start with what the home supports and what you can afford, not an automatic premium over asking. I'll help you weigh those boundaries before you commit to an offer.
The latest market report covers Brentwood single-family homes, condos, townhouses and apartments. Across those property types, the typical sale price was $625,000. Homes sold for an average of 102.2% of their asking prices. The number of homes sold in the latest market report was 9, which limits the transactions behind these figures.
The average percentage of asking price that homes sold for cannot set your personal offer limit. I would weigh recent sales of similar homes before deciding whether the asking price deserves your support. A higher offer also deserves a careful look at the money needed at closing and your remaining reserves.
Ask your lender to clarify your payment options and closing expenses before you settle on a purchase budget. Review differences in size, condition and features with me to establish a reasonable offer range. Write down the maximum price you are comfortable offering, then review financing and inspection requirements before submitting.
