Don’t jump in with both feet without having done your research.
Some of the items that I’d be looking at is the type of seller we are encountering. Is it a corporate seller? Maybe it’s a large bank? Could it be a standard sale with a regular person at the “sales helm”?
After you seek your advisors experience as to how best to approach each different type of seller, it is now time to find out some information about the price of the real estate being sold.
Make sure you use the “appraisers” standard when approaching how much a home, condo or townhome is worth.
We have a system where expert Realtors, on my precision real estate team, do the work for you.
Resource: Best Residential Values – This system only works in Southern California. If you are outside of our venue/reach, we will be glad to refer you to a trust realtor in our circle. Just let me know!
The appraisers standard is 6 months of “sold” inventory. They look at all of the similar housing for comparison. “similar” means apples to apples in comparison. They also want to get as close to spot on matches for the numbers of bedrooms and bathrooms – plus or minus 250′ in square footage and +/- 1000′ in land square footage, if applicable.
There are many more variables, including a “hands on” gathering of intel per the exact property that is going to be appraised.
While some of us Realtors can gain access to those homes that have already closed escrow, some cannot.
That is why we do our “valuation approach” to the real estate in a different way relying on the comments, title profile and the historical photographs of the subject property and the comparables.
While gathering the value for the home you may want to purchase, you will also want to look at the specific areas surrounding it, the neighborhood and the “schools if applicable”.
Make sure that you are buying where you want to be living for at least a few years.
Check out the neighbors. Do some door knocking on the home surrounding the one you are going to want to purchase.
Ask them, with everyone to be living in the home in tow, “How do you like the neighborhood? Knowing what you know now, would you buy in this location again? If you had a close friend wanting to move into the same neighborhood in which you live, what would be your “advice” to them?”
Make sure you call the local law enforcement organization. Ask them to look up the subject property for any special location hits or repeat crimes, or other crimes, in the same neighborhood. Then ask them if they’d live there or if you should steer clear?
For more Home Buying Tips, you will want to call us for an appointment to attend our “crash course” on real estate. We meet with the veteran seller and the first time buyer alike. It is important, when you are about to spend so much money it takes 30 years to pay off, to get expert real estate advice.
Make sure you check out our Paris911 Daily Santa Clarita and Greater Los Angeles/OC Real Estate Radio Show at the home page of our Top Realtor Website for Southern California!
We are the REMAX of Valencia CA Paris911 Team of Agents – Glad to be of service!