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Making
an offer to purchase
Using
comparable home sales
Make
your offer
Ernest
money deposit
Contingencies
in a purchase agreement
Agreeing
on price & terms
Home
warranty
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Using
comparable home sales
Once
you have found a home you like, you will want your agent to show
you what the sales activity in that area is for homes.
This
is a three-step process. First, you’ll want to determine what
other homes similar to the one you want are currently
"active." These are homes still being offered for
sale.
Second,
take a look at homes that are "pending," these are
homes that have entered escrow. However, these give an idea of
what the range was the buyer might have paid, but not exactly
what they paid.
Thirdly,
you really want to consider what homes have sold for, this means
they’ve gone through and closed escrow. Comparing homes that
have sold allows you to compare what previous buyers have
paid for homes in the area, and to see if the seller is asking a
fair price for his home.
Remember,
not every home is alike, some have more amenities and upgrades
than others. You’ll want to consider improvements, the
condition of the property, current market activity, and
sellers’ motivation. And as always, a great factor that
affects value is location, location, location!
If
you have any questions, Please call
1-866-OC-House
© 2010 OC Home Finder Team.com - All rights reserved.
Written
By Shan Roberts
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