As a buyer, it is imperative that you have an experienced and professional real estate agent representing you. The counsel and advice of a seasoned real estate professional can make the difference between a great buy and a risky buy.
The following are some tips that buyers should consider as they approach the buying process:
- What do the comparable sales look like in the neighborhood and nearby communities? Your Realtor will create lists and show you comparable properties that can help you determine an appropriate value for a home you might be considering.
- What are the leverage points with the seller of the home you are considering? Your Realtor can assist in finding background information on the home you are considering, and advise in the best negotiation strategy befitting those leverage points.
- Are there multiple offers on the property? If so, the negotiation process will go differently. Understanding and articulating the current market dynamics will be one way your Realtor will add value to your purchase.
- How long has the home been listed? The length of time that the home has been listed on the market can affect what a seller is willing to accept, be that price higher or lower than the average list to sale price ratio.
Condition of the Home
- How does the interior of the home compare to similar priced homes in that area? Major condition issues that should be discussed prior to submitting an offer can include the condition of the structure itself, the roof, the HVAC, etc.
- What improvements or renovations have been made to the house? The level of professionalism will be apparent to a good Realtor who is familiar with what buyers expect at different price points.
- An inspection will reveal any detailed issues that might be present prior to closing.
Location of the Home
- The location of a property is a primary factor in the price of a home. Your Realtor should be able to compare homes you are interested in relative to other homes in the same school district- or- add a premium or apply a discount accordingly. School districts drive value.