Megh,

Naima and Mark are right on target. Our recommendation is to find a good agent that is an expert in your target area and is willing to locate the comps you require.

Additionally, it is important to try to get a feel to each sellers level of motivation. Factors that might provide some insight are: the homes priceing history, term of ownership, Is it in a trust? Has there been a recent change in title? How much did they pay for the home? Is it occupied currently?

Are you interested in identifying a good buy or making friends with the seller? A real estate professional will skillfully guide you through the process as well as protect your interests.

Without the benefit of doing the research on your $550,000 home a reasonable starting offer could be $350,000. But if it is priced right currently it could be the asking price.

Good luck,
The "Eckler Team"
Century 21 almar & associates
Venice, Fl 34285
ecklerteam@comcast.net

Thu Apr 3 2008, 05:28

Mark is absolutely right, you need to have your Realtor run comparables to determine its value and then you decide how much you want to offer. The asking price doesn't mean that it's worth that amount. It could be underpriced too!!!

Thu Apr 3 2008, 00:41

What is the property worth based on comps and condition. House aren't always priced right so starting from the asling price usually isn't the best place to start.

Thu Apr 3 2008, 00:18