Questions Buyers often overlook

Questions Buyers often overlook

When you are home hunting, information is power.  The more you know before you make an offer, the better.  Usually when two homes are equally appealing, digging into the details can make a difference.  Here’s a list of “bonus information” that most buyers overlook or forget to ask about while they are shopping for a house:

Homeowner’s association rules:  Certain neighborhood covenants may be a deal maker or breaker for you, so if there is a set of guidelines you’ll be required to adhere to, get them up front.  They can cover everything from paint schemes to lawn design and beyond.

Utility bills:  Most sellers will not balk at sharing with you what utilities cost annually. Water, power, gas, and even cable service provider bills can help you get a better idea what it will cost monthly to live in the home.

Pest control: In areas where pests can be…

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How to use Comparable Sales to Price Your Home

Before you place your home up for sale, you need to search for the right comparable sales to arrive at the perfect price.
Knowing how much homes similar to yours “called comparable sales” sold for will give you the best idea of the current estimated value of your home.

What makes a good comparable sale??
Your best comparable sale is the same model as your house in the same Subdivision and it closed recently. If you can’t find that, here are the factors that count:

* Location – The closer to your home, the better. A good comparable sale is a house in
your neighborhood, same type of street. and your school district.
* Home Type – – Try to find comparable sales that are like your home in style,
construction,square footage, number of bedrooms and baths, and lot size.
* Amenities Upgrades. Is there a remodeled Kitchen with Granite countertops, crown
moldings,a deck, a screened porch or does the communuty have the same amenities?
* Date of Sale – Most Buyers use government guaranteed mortgages and those lending
programs say comparable cannot be older than 6 months.
* Incentives – Did the comparable sale show that Seller paid Closing Costs for the Buyer?
You have to reduce the value of any comparable sale to account for any deal sweetners.

If you are still having trouble picking up a marketing price for your home, look at the
competition and ask a real estate agent to be honest about your home and the other homes on the market. Even if you live in a Subdivision, your home will always be different from your neighbors. Evaluating those differences, like the fact that your house has one more bedroom than the comparables or 2Car garage versus 1Car garage, is one of the ways real estate agents and appraisers add value.