The fair market price for any home is not determined by the seller, the buyer or the realtor; it is determined by the marketplace. The market determines the vale of the home based on many factors, including size, style, amenities, condition and location.
Your Realtor, acting as your buyer’s representative, can provide you with market data in the area or subdivision where the home you are looking at is located. The most accurate data is information on nearby properties that are comparable in terms of size, amenities and conditions and have sold in the last few months.
Once you have this information you and your Realtor can determine if the seller’s asking price is realistic or if he has an unrealistic opinion or the worth of his home. Just like you, if you have a home to sell, most sellers are not willing to sell their home for much less than its fair market price.
Tuesday, June 23, 2009
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