Are you getting a fair price for the home you want to buy?

Home buyers are often faced with the question of whether or not the list price is fair, and whether they can offer a lower amount for the property (and if they can, how low can they offer?). Getting to a figure is rarely something that can be done with a single glance. Real estate agents can do this because they are professionals who work with fluctuating prices and different real estate markets all the time. As a regular home buyer, especially for first-time home buyers, it’s not such a clear-cut method. Here are some tips for you to determine how much is a fair price for a home and what fair price you can offer the seller during negotiations.

Have a point of reference. Some people mistakenly assume that all list prices are higher than the sale price that the owners are willing to accept. For example, if a homeowner is trading at $ 500,000, some buyers easily assume that the seller of the home is actually willing to settle for a lower price than that and is simply pricing higher than their expectations to accommodate to negotiations. The truth is that some owners no longer want to negotiate and when they put $ 500,000 as the list price, they mean that it is the final price. Offering less than this would make the seller think that you are not serious about buying the house. In order not to make a seemingly ill-informed offer, you’d better do your research first.

You can research how long the house has been waiting to be sold. If the home has been on the market a long time, this could indicate that the owner may be willing to negotiate a lower price. You can also use other houses in the area as a reference point. Look for comparable homes, check their list prices, and see how much they sold. You can also check the state of the real estate market in the area to make an informed 平價到會. Check how many houses were sold and how many houses were sold last year. This should give you an idea of ​​how eager the seller may be to get rid of the home right now, considering the market.

Even if you are looking for comparable homes, it is important to look at the condition of the home you want to buy. Check the house to see if there are any immediate repairs that need to be made. If the seller does not repair it, you can request that the repairs be deducted from the list price. If the home is relatively well-maintained, there may be a good reason it is priced at that price. There are many telltale signs that will give you more clues as to whether you can ask the home seller to lower the price of your home.

Having a valid benchmark will show the salesperson that he has a clear idea of ​​what he is doing and that he is making an informed decision.