Question Details

Danielle, Home Buyer in 11577

hi i am interested in buying my first home, but i am unsure of how much i can neg the price. i checked zillow

Asked by Danielle, 11577 Mon May 5, 2008

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You should get a referral of a reputable Realtor from a friend, family member or associate. If you have no luck then you should call the Coldwell Banker office locally and ask to speak to the manager for an appropriate buyer's agent. Please check out this link to view the benefits of working with a Realtor when buying a home http://www.car.org/index.php?id=MjgzMw== . A Realtor run the recent sales comparables in the area to give you an idea of the fair market value. Zillow is generally a good place to start as a reference but a lot of times it is off because it does not take into consideration location and condition in it's appraisal. Good luck.
0 votes Thank Flag Link Tue May 6, 2008
Danielle,

Please don't trust the information from Zillow to purchase your first home!! Using a Realtor is always going to be to your advantage because of the analysis they will do on the home of your choice. Zillow estimates are off more than times than not from my personal experience of comparing. Not just in my market, but also in other states.
0 votes Thank Flag Link Mon May 5, 2008
Hi Danielle:

It will be to your advantage to engage a Realtor's service when you purchase your first home. Your Realtor will run a comparable market analysis for the specific house giving you an idea of how much similar houses sold for in the similar location during the last months. She should also be able to explain to you why those homes sold for that specific amount, and give you forecast on how the market is. This will allow you to make an informed decision rather than just looking at Zillow (which is not so accurate in a lot of situations).

Your Realtor will also be able to explain and guide you through the whole purchase process, include makeing an offer, negotiating on hbehaolve of you, conduct inspections, assist you to make sense of inspection reports, help you determine credit backs and guide you through closing.

You will not have to pay for your buyer's representation (the agent wll be paid at close of escrow only using part of the sales proceed fom the seller) This is your first home, help from a Realtor is very iimportant!

Best,
Sylvia
0 votes Thank Flag Link Mon May 5, 2008
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
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