Normal
0
false
false
false
EN-US
X-NONE
X-NONE
MicrosoftInternetExplorer4
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:"Times New Roman";
mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}
Selling
Your Hot springs Village Home
Determining Your Offer Price
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?
Determining your offer price is a
three-step process.
First, you look at recent sales of
similar properties to come up with a price range. Then, you 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 price you think would be fair to pay 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.
Comparable Sales
The first step in determining the
price you are willing to offer is to look at the recent sales of similar homes.
These are called "comparable sales." Comparable sales are recent
sales of homes that compare closely to the one you are looking to purchase.
Specifically, you want to compare prices of homes that are similar in square
footage, number of bedrooms and bathrooms, garage space, lot size, and type of
construction.
If the home you are interested in is
part of a tract of homes, then you will most likely find some exact model
matches to compare against one another.
There are three main sources of
information on comparable sales, all of which are easily accessed by a real estate agent. It is
somewhat more difficult for the general public to access this data, and in some
cases impossible. Two of the most obvious information sources are the public
record and the Multiple Listing
Service.