I am looking at purchasing my landlords home. How can I verify the asking price is right for current market conditions?

Asked by pbacon08, Keller, TX Fri Dec 21, 2012

Help the community by answering this question:

+ web reference
Web reference:


Terry McCarl…, Agent, Cape Coral, FL
Fri Dec 21, 2012
Do NOT trust zestimates on Zillow or any other website. I recommend you consult with a Realtor® as well as having an appraisal done.
1 vote
I could not agree more! It might be worth your time to look at other homes in the neighborhood. But keep in mind the market is moving fast and your landlord can probably get good value for the home.
Flag Sat Aug 23, 2014
Lloyd Martin, Agent, Keller, TX
Wed Feb 13, 2013
1. Yes, get a comparative market analysis from a local realtor. However, a realtor can make you a CMA in about 5 minutes, but a good CMA takes much longer.
2. If the price seems right, then you can proceed with the purchase and then on the Purchase Contract there is a clause 4A.1 that states you can get your earnest money back if the lender has a problem with the appraisal not being high enough.
More questions - 817-471-0221
Call me
0 votes
Pamela McMah…, Agent, Dallas, TX
Sat Dec 22, 2012
Good Morning,

I also recommend contacting a Realtor for a comparable market analysis. Your Realtor can then help you make the decision to purchase, ask for a lower price or move forward to another home.
Good luck with your decision. If you need assistance, please give me a call, email or text.

Happy Holidays,
Pamela McMahon, Realtor, CHMS, ABR, SFR
Newton Realty Group
email: pamelafmcmahon@att.net
0 votes
Shelly Sierr…, Agent, Southlake, TX
Fri Dec 21, 2012
Get with a Realtor and have them pull the comps for the home you are interested in.

Shelly Sierra
RE/MAX Masters
Direct: 214-686-4865
Email: shelly@sierradfwrealestate.com
0 votes
Ron Thomas, Agent, Fresno, CA
Fri Dec 21, 2012
I guess you would have to define what YOU consider the "right price":

What do you consider "current market conditions"?
Is your Landlord "distressed"?
Is it a Shortsale?
Do you recognize that the Market is going up?
Do you know what the Market Value of the home is?
A Realtor can answer these questions.
0 votes
John Straub, Agent, Fort Worth, TX
Fri Dec 21, 2012
Good Morning
There are 2 ways that I can think of off of the top of my head you can check with Zillow, they track that information, or you can contact a Real Estate Agent. I would be happy to give you a CMA.

Happy Holidays

John Straub
Keller Williams Realty

0 votes
Search Advice
Ask our community a question

Email me when…

Learn more