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 Elizabeth Stevenson
Loan Specialist
Hours: 10am-6pm Mon.-Fri. MST
Phone: (877) 511-8811
Fax: (866) 897-2452
Make
an Informed Offer...
Once
you have determined the price range of the home
that you can afford, and have found a home that
you want to make an offer on in that price range,
there
are two things you absolutely must do before
making an offer.
1)
Always make sure that your real estate agent
gives you a list of comparable homes in the
neighborhood that are for sale and/or have recently
sold (this is called a comp list). Once you
have the comp list, separate all of the recently
sold homes, and then make an average of the
sold home prices. This will tell you if the
sellers asking price is above or below the average
selling price in your neighborhood, which is
vital when deciding what to offer.
2)
Also on your comp list of recently sold homes,
find the number of days that each of the sold
homes were on the market before they sold, and
make another average. This average gives you
insight as to how long the sellers home has
been on the market compared to the neighborhood
average, and how motivated the sellers are.
Once
you have these numbers and an appraisal for
the home, you are ready to make an informed
offer. For information on how to make the best
offers and also how to protect yourself when
making an offer, click
here.
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