We have found a house that we want to make an offer on. How do we figure out what a fair offer would be?
2006-08-07 05:04:27 · 5 answers · asked by wethy5 1 in Business & Finance ➔ Renting & Real Estate
Get a realtor!!! The seller pays commisions to the realtors, not the buyer. If you are not selling a house, a realtor is free to you. A realtor will be able to pull comparable sales in the area and provide advice about the neighborhood. They are also an excellent source of things to look for like type of heating and cooling, roof condition, permits for home re-modelling by the seller, etc.
If you want to try it yourself, I recommend www.zillow.com. Type in the address, but look at the comparable house sales to get a real idea. Look at recent sales to get a realistic price. Their zillow estimate is based on the last sale, so, if like my neighbor who has added a second story and pool in his backyard, zillow still prices it like a one story house.
Hope this helps.
2006-08-10 05:31:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you're working with a real estate agent, ask them to do comparables of other homes in the area that have sold - size, dqyare footage, location, amenities, etc. Homes that have sold within the past six months should give you an idea of what the realistic market value is in the area.
If you're working on your own, see if you can get that information from your local county appraiser - some appraisal district make the information available, but you won't have as much detail about what's inside the houses as you would from an agent.
2006-08-07 12:08:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
GET A REALTOR! It costs nothing to use a realtor as your buyer's agent. The seller pays the commission, not you the buyer!
Ask your realtor what a fair offer would be, and also ask what has sold/closed that is comparable to the home you wish to purchase. This will give you an idea as to what to offer.
If you're not using a realtor, good luck!
2006-08-07 13:47:08 · answer #3 · answered by thetoothfairyiscreepy 4 · 0⤊ 0⤋
Pull nearby and RELEVANT comps. Do what's called a 'value check'. Any agent should know what that means. You can also pull a property profile to see what they paid for it even though that has nothing to do with the current value - it still helps.
2006-08-07 13:30:04 · answer #4 · answered by DAVID K 2 · 0⤊ 0⤋
You might try using zillow.com. I think the values come up kind of low, but it will give you a ballpark at least.
2006-08-07 12:21:40 · answer #5 · answered by SuzeY 5 · 0⤊ 0⤋