We get this question asked to us all the time; What is the lowest price you think we can purchase the home for? Our typical response is; first we must do a price analysis to see what similar homes in the community have sold for and then we can show you what the current market value is.
Obtain the best price for your home purchase
Having the right REALTOR looking out for your best interest during the home purchase process is essential. A lot of agents, will pull a CMA out of the air based solely on the square footage and look over the last 180 days and be done.
Not Us!
We do extensive research into the homes that sold that we will be using as comparable homes for your purchase. We know it is always best to compare homes that are the most similar to the one that you are trying to purchase.
So if a home has a pool, then all our comparable homes will have a pool. Not sure about you, but we definitely do not know exactly what a pool cost is. Too many variables to figure out for us.
We will normally go above and below 10% of the homes square footage. Example a 2,000 square foot home, we will look 1800-2000 square foot homes. We will start our search in the neighborhood of the home that you are looking to purchase.
Now in most cases this will work out for the Sub Division Communities where the majority of the home at 1954sf are the exact same floor plan built by the same builder.and we will look at upgrades that homes that sold had, when compared to the home you are considering to buy. Appliances, have they been replaced or are they original. Flooring is a biggie!
We recently were showing a client homes in Apollo Beach, waterfront with Boat Lifts. We had did our initial tour of about 6 homes and then narrowed it down to his top 3. We then went back and looked at those 3 homes again. One of the homes was eliminated almost immediately, since it was not on the water, however it did come with a boat slip in the marina, but our client really wanted to walk out from his home and get into his boat and go.
The second home after further looking seemed to be in need of some serious deferred maintenance issues. And the ironic thing was it was the lowest price home we were looking at. Which after discussing we agreed it was priced in accordance with sales and it’s condition.
Now the third home had been his favorite from looking at it through his search and we even went down and previewed the home and shot a video for him since he was out of state and photos can be deceiving. The home was upgraded quite a lot, in decent condition to the naked eye and had everything he was looking for. The one thing that was out of whack was the price.
It was listed at the time for $769,000 and originally started out at $825,000 and been reduced over the course of 152 days. We looked at the most recent sales in the community did our calculations and determined that the value was between $725,000-$735,000. So he decided to try and purchase the home below market value and offered less. Through countering back and forth we wound up at $725,000, which to him and I was still a win for him, since he was at low end of the comparable sales, but had a significant amount of upgraded features to this home.
So if you want someone who is going to go to battle for you when it comes time to negotiate the best price for you. Then you need to contact Nick & Cindy Davis at 813-300-7116 or simply click here and we will get started working for you in finding your new home here in the Tampa Bay and Surrounding areas.
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