|
|
|
|
|
|
How To Use Comparable Sales The
meaning of "market value" can sometimes be
confusing. For example, most people shop at
retail stores and pay the price printed on the price
tag. A shirt is worth $26.95 because the price tag
says so. A tie is worth $22.95 because the price tag
says so. We really don't question it, because we are
used to paying the amount of money listed on the
price tag. This is not always the case with home buying. Before you ever consider making an offer on a home, you need to feel confident that your offer price is within the reasonable boundaries of the market price. To arrive at a reasonable market price, the Rush Team can provide you with a Comparable Market Analysis (CMA). This important report will compare the condition, location and amenities of similar homes that have already sold plus the current market competition of other homes for sale in the area in which you intend to buy. Your Price Once you have the CMA, you must figure out what YOU are willing to pay for the home. If you are willing to pay market value or more for the home because you don’t want to risk losing it, that's fine! Only you can determine how you might feel if you lose a potential new home to another buyer for a few thousand dollars. However, you MUST be sure that your offer price is reasonable. Only a CMA can assure you that you are not just paying the price listed on the price tag. Remember, you are not buying a shirt or a tie - you are buying a home!
|
Ask The Rush Team
Real Estate Tools
|
