Tips to find out if the home you found is not over priced
Tips to find out if the home you found is not over priced
Not being ripped off is the first priority of every buyer and seller of property. This thing can happen on both sides and both must do a proper research before buying or selling any property to ensure you don’t get ripped off. If you are about to buy a house how will you be able to know you are about to offer a fair deal? Well, keep reading to find out how you can make a sound investment.
See recently sold homes
You should check out houses which are same as yours when it comes to size and quality and are recently sold. You should also compare the property you have an eye on with other properties to make an even better estimation. You can just search for terms such as “Atlanta homes for sale” and you will get all the results of that area. To get the most accurate information you should ask your real estate agent about it, they will be able to provide most up-to-date information. If you are ready to make an offer on a house, be sure to request a comparative market analysis from your real estate agent. Thoroughly, review the homes that were recently sold, be sure to compare apples to apples. If the home you are interested is a two story 4 bedroom house on a basement and on a acre of land, look the homes that sold within the last 6 months and has similar option as the one you are buying, this will tell you exactly what people are willing to pay for the
Look for houses same as yours
You should look for houses on sale which seem close to your house when it comes to quality and design. Sellers know that they must sell their homes at a competitive price to stay in the competition. This will provide you an estimated amount of what you should expect to pay. When comparing houses, be sure to stay with certain geographical area, preferable within an elementary school district. Good schools are a big factor in determining home prices.
Look for houses same as yours that didn’t sell
You should check out similar houses which you are thinking of buying that didn’t sell. Just search as usually by typing phrases such as “Atlanta homes for sale” to see results in that your area. If any houses with that price are not sold within 90 days, then this mean the house is may be overpriced. You should also know that if there are other similar houses which didn’t actually sell then this means it could be bought for a low price due to demand and supply.
Real Estate Inventory
If the number of homes for sale in the area you are looking for is low, you will probably have to make a higher offer, however, if the inventory is high, you sellers will be highly comparative, therefore you may be able to make a low offer, if you don’t have access to this data, your local real estate agents can provide you all this information. You will see high number of homes for sale during the selling season, in most areas the selling season starts around March and end around August.
For Sale By Owner Properties
In a For-Sale-by-Owner (FSBO) Property there is no agent on the side of the seller and the owner makes all the decisions regarding the sale without any recommendations. In such situation, they also don’t pay a full commission fees to the agents. However, most of the sellers don’t think about this and don’t actually ad this up to the price of the home. Also, as there is no real estate agent there is also a good chance that the seller might be selling the property overpriced due to lack of knowledge.
What does your Real estate agent say?
Real estate agents have quite good experience and they can sense whether the price is good over priced. You can just ask your real estate agent and they will tell you if it is fair or what actually the price should be.
Prospect Sellers
If you are thinking of selling your house in Atlanta, contact us today, we can visit with you at your house and we will give you an honest opinion on what needs to be done before you list your house for sale. Our construction company can give you a free estimate on any work that needs to be done. Find out what is the current price of your home for free, contact our team at 770-309-6417 to get your free market analysis of your home and sell your home with confidence. Our agents can also help you determine if the house needs any repairs or updates in order to get the best possible price. Call us today.
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Telmo Bermeo Real Estate Broker
About Telmo Bermeo
Small Business Owner, specializes in marketing homes for sale in the Atlanta Area by using the most up to date Internet Marketing Tools.
Real Estate Broker serving the Atlanta Metro Area, for over 12 years. If you are planning to buy or sell your home in Atlanta, call Telmo Bermeo at 770-309-6417
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