Your agent will get paid, its your JOB to ask him or her to get you all the facts. This is one of your most expensive investments that you will ever commit to, there is not embarrasing about asking your agent to do the work that they should. First of, have your agent to check all the Comparables in the area or building and surrounding buildings. Make sure you know everything that sold in the past three to six months with your specs, 1 Bedroom, similar building or same, square footage, condition. Have your broker check how much this Seller purchased the home for, if they can get that info, this will give you a better negotiation window. If there are 10 homes same specs that are priced at 100K less, YOU ARE OVERPAYING.

have your broker do some research before you commit to anything.

Don’t be embarrassed to ask for assistance from your Realtor. It is perfectly natural for a buyer to seek advice when considering making an offer. Your agent should be able to help you structure an offer that will be far more attractive to the seller.

Price is just one of the many considerations when preparing an offer. If your agent has done their homework and fully understands your situation they should be in a good position to make some recommendations.



John Agnello
Realtor®
Long & Foster, Real Estate Inc.
(609) 320-6700 –Cell
(856) 856-2338 –Office

A Buyers Agency Agreement will provide you the representation you need. With that signed, your agent will access the MLS system and show you comparable sales for the property you have chosen. (Comparing locations, size, condition, date of sale, etc.) In that way, you can be confident you are not overpaying. If you do not have a Buyers Agency Agreement, the agent will not be working for you. Be smart, get signed up!!!!

Your best resource is to be working with a buyers agent and have them do a buyers CMA for you. This will give you the comps for the area in which you are buying for homes similar to the one your interested in that have closed in the last 6 months.

It sounds like you are looking at a co-op or condo. You may be able to find some comps for a condo unit on various websites, but the best source for either type is your Real Estate Agent. Realtors owe you fairness and honesty and should gladly provide you with a list of what has sold.

Make the offer on the low side and get the process started. The chances of your offer being accepted depends on how motivated the owner is and not some value come up with.

Good luck

call me 917-497-0729

Your agent wants to help you! One of the best ways to determine the value of a property is to see what comparable homes have sold for in the last three to six months. Your agent can obtain this information for you, and can help you determine the best offer for the property. Remember, though, that a property is worth what a ready, willing and able buyer is willing to pay for it, based on current market conditions. By the way, don't feel embarrassed-this is one of the most common questions buyers ask. How else can you make an informed decision?)

Keisha,

You might want to consider asking a local appraiser for their opinion on value. They may have a more objective viewpoint as they are required to be completely independent and unbiased. I can refer you to several if you are interested.

Hopefully your agenty has shown you other similar units currently on market. In addition they should be able to pull most recent closed sales with out too much effort. If there arent any or you still are concerned that you may be over paying, be sure to have an appraisal clause in contract so if the property doesnt appraise you could either have seller reduce price or walk from sale. This is pretty common for relo clients.

I am sure your agent would not mind at all if you asked for similar sold properties in the community you wish to live.

The question will come up whether you are using a buyers agent. I hope you are. But even if for some reason you are not, ask anyway. You can always go to town hall and capture all sales including those that were not represented by an agent.

Best of luck!

I really think you best resource should be your real estate agent. Your real estate agent should be able to provide you with all the data you need to make an edcuated decision or offer. Not to mention the agent should be able to negotiate like a pit bull on your behalf.

Request a copy of the latest sold properties in the area.
Also you can visit propertyshark.com
if you need help. send me an email.