determine how much i should pay
There are several places to go. Tax records are public information, and many towns and township assessor sites have recent sale information available, although it may take months for the data to be posted. You can also watch the local papers for this information as property sales and prices are public information. There are also several websites which carry sales info, and will actually generate a market analysis for you. Zillow.com is probably the most popular. Be careful of these sites however, as the info is not always accurate, as I have seen the estimates be as far as 20% off.
As already mentioned, the most accurate data will come from a licensed Realtor. We have the most up to date information on what has sold, for how much, and if there were any seller concessions. In addition, in a market like we have today, the properties that have just gone under contract are a more important indication of market value. This is because the market is still shifting, in some instances weekly. Because it takes, typically, 45 or more days for a property to go from an accepted offer to actually closing, closed sales data represents the market 45+ days ago.
As a buyer, the professional services of a trained realtor cost you nothing. The seller nearly always pays the commission, so there is no reason not to enlist the expertise of a realtor
You can contact me! I am a Realtor in Yorkville and would be happy to help. You can also search sold properties on my website. Hope to hear from you!
Have A seasoned agent that specializing in your area (me) come give you a free no obligation CMA of the area. Or go to http://www.danirks.com and click on "Home Values"!
You can get recent home sales on my website, http://illinoisrealestate.public-record.com/realestate/ it may have a 1-2 month lag though. If you're working with a Realtor and the homes were listed on the MLS, they could look them up for you as well
Make a buyer's representation agreement with a REALTOR member of the MLS. The agent can advise you about prices and much more, and it will cost you little or nothing.
If you need validation of the value of having an agent, you can get that and more answers to many another question you may have from the HUD Web site:
http://www.hud.gov/buying/comq.cfm
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