Afraid you'll pay
too much for your next home? Is there a way you can be sure
you aren't overpaying for the home of your dreams? There are
three simple ways to gain assurance that the price you're
paying is a fair one.
homes. See a selection of homes that meet your requirements.
As you do, you'll begin measuring the value offered by each
compared to the price asked. It shouldn't take long to eliminate
those that are grossly overpriced. They tend to stand out
from the rest.
Next, ask a simple
question when you see a home which appears to be a good choice.
"Has this home been appraised?" If not, ask the
real estate agent to provide details about other homes sold
in the area. Compare them with the asking price of the home
you are considering.
Finally, if you
are securing a mortgage, the lender will have the home appraised.
If it fails to appraise for the asking price, you should be
able to renegotiate the price of have the option of withdrawing
from the transaction. Ask the agent about your options if
the appraisal comes back low.
want to receive the highest price possible for their home,
overpriced homes tend to linger unsold on the market. A fair
asking price is most likely to attract a full-price offer.