In today’s market
negotiations can be very tricky. This is why it is important to be represented
by an agent who is an expert in the area where you are buying. The first step
is to look at recent comparable sales. Do an analysis of number of bedrooms,
baths, square footage (be careful with that one!), garages, condition,
improvements completed and needed, seller circumstances and location. Data can be gathered from the multiple listing
service and from public records.
Next is to examine the
market conditions where the home is located.
Your agent can pull statistics that will tell you if this particular
home is located in a buyer’s market or a seller’s market. Yes, there are some
areas that are always high-demand, sellers’ markets. Facts in hand, you can
then intelligently negotiate.
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