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When you prepare an offer to purchase a home, you already know the seller's asking price. But what price are you going to offer and how do you come up with that figure? First, you look at recent sales of similar properties to come up with a price range. Your real estate agent can help you get that information. Then, analyze additional data, such as the condition of the home, improvements made to the property, current market conditions, and the circumstances of the seller. This will help you settle on a "fair" price for the home. Finally, depending on your negotiating style, you adjust your fair price and come up with what you want to put in your offer.