How do you find out the value of a home you're looking to buy?

Answer 1

Consult a knowledgeable buyers agent. They should prepare a CMA of comparable properties in your neighborhood that have recently sold; this will give you a general range of values. If you want a specific value for your home consult an appraiser.

Answer 2

Most Realtors use Market Value Comparison method to appraise the value of the house. They compare the house to the ones that were sold in the area within the last 6 months and arrive to the value of the house. They also take into consideration such as how many bed rooms, bathrooms, kitchen, etc. Houses close to elementary schools and transportation tend to have more value.

Answer 3

If you're financing the home, the bank will require an appraisal. That's the best way to find out. A realtor can give you a ball park figure with a comparative market analysis but the bank won't accept it as a replacement for an appraisal.

Answer 4

If you have a Buyer Agent ask him/her to do a Comparative Market Analysis. DO NOT ask the Seller Agent for this. You can do it yourself by looking up the selling price of comparable properties in the Area, all those that have expired and those that have been withdrawn. However your Buyer Agent can do this in an hour witj coffee breaks.

Answer 5

Look at the local tax assessors office and pull the property tax bills from similar homes in the neighborhood, this way you save being hasseld by pesky real estate agents and mortage brokers who don't really want to help you anyway, they just want the commision.

Answer 6

Go to zillow.com and type in the address of the house. That way you don't have to deal with talking to the mort people immediately. It will give you an idea of the value

Answer 7

I have a property search engine at my office if you need help. Im a mortgage consultant. Please feel free to call me at 1-800-766-5185 ext 4439 ask for Tim