|
Factors
Affecting Your Offer Price
Since you have toured the
property you are interested in, you should know how it compares to
the general neighborhood. All you have to do is put the home in one
of three categories - average, above average, or below
average.
When evaluating a home’s
condition, there are a number of things you should consider.
Structural condition is most important - items such as walls,
ceilings, floors, doors and windows. Then paint, carpets, and floor
coverings. Pay special attention to bathrooms and bedrooms and
whether the plumbing and electricity work efficiently. Look at the
fixtures, such as light switches, doorknobs, and drawer handles. The
front and back yards should be in reasonably good shape.
The missing ingredient will
be information on the condition of the homes from your comparable
sales list. Provided you chose the right agent to represent you,
they will have actually visited most of those homes and be able to
provide key insights.
Even when comparing exact
model matches within a tract of homes, you should note whether the
previous owners have made any substantial improvements. Cosmetic
changes should be largely ignored, but major improvements should be
taken into account. Most important would be room additions,
especially bedrooms and bathrooms. Other items, like expensive floor
tile or swimming pools should be taken into account, too, but should
be discounted. A pool that costs $20,000 to install does not
normally add $20,000 in value to the home.
| 
