Don't pay too much for your new home!
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Real Estate Agents suggest a listing price based on a Comparative Market Analysis (CMA). Their estimate focuses on other listings (not closed sales) in the area, and only a small portion of the criteria necessary to determine the value of a home.
Sellers may list their homes based on an emotional attachment to their property. These two methods can often mislead the seller into an inflated opinion of the value of their home. As a result, the listed price may not be reasonable, nor supported by the other similar, recently closed sales from within their area.
Some appraiser's will find creative ways to support the listing price, regardless of its true market value. At the most, this will result in you paying thousands of dollars more for home then it's worth. At the least, the lender will reject the appraisal, and you will have lost the appraisal fee; not to mention valuable time and energy that could have been spent in pursuits of your true dream home resting right around the corner.
At EAS, we can provide you with a fair and reasonable market analysis of the listed home, as it compares to the most recent and similar closed sales within its immediate area. Only then, can you make an informed decision as to whether the listing is the best investment for you and your family.
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