- Ask your real estate agent to provide you with a market analysis. Make sure this analysis includes sold properties in the area of the home you are considering.
- Check property tax records to determine the home’s tax value and to view any recent sales history specific to the home.
- View the MLS listing profile. How long has the home been on the market? What is the list to sale price ratio for this area? Have there been any recent price reductions? Is the seller offering concessions to buyers? Is the seller offering bonuses to the agent who sells their home?
- Obtain and appraisal. Your lender will require you to have an appraisal completed for the home in order to approve financing. If you are paying cash for the property, you should make your offer subject to an acceptable appraisal.
Taking the steps listed above will help you determine if you are paying too much for a home.
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- Greg Staker - Watson Realty Corp. - 407-304-0255
