How will you know the "right" price to offer?
Market conditions vary with location, timing, supply and many
other factors. In a fast-moving market with a terrific house where
there is other buyer competition, the "right" price may be over
what the seller is asking. In more normal conditions, most homes
sell within about 3% to 5% of the asking price.
The following factors all influence value:
size, location, condition, amenities - interior, exterior, neighborhood, time on market, seller concessions, transferability, zoning, environmental influences, particular site within a community, governmental and social influences.
Undoubtedly, however, the most accurate way to determine the fair value of the home is to carefully analyze the recent sales history in the particular area.
If you are having trouble locating this information,
we will be happy to have someone assist you.
Once you have determined the fair value of the property,
the amount you offer should be influenced by:
- how much do you want that particular home
- how "hot" the market is & how motivated the seller is,
- and how good is your offer?
- (is it subject to the sale of your house, financing or other contingencies and flexible as to the closing and possession dates, ? etc.)
Generally, your first offer should be within 5 to 10%
of what you determine to be the "fair market value"
of the property.
Brian Rooney 604-888-7424
#201 20999-88th Avenue, V1M 2C9
HomeLife / Benchmark Realty Corp.
email: brian@brianrooney.com
