Ottawa Real Estate is hot and properties are selling like hot cakes but remember this is not a reason for Buyers to pay more than the fair market value. For sale by owner properties are popping up like weeds and everyone wants to make a huge profit but Buyers, please beware that the only person that will help you in determining whether the FSBO property is worth the asking price is YOUR REAL ESTATE AGENT.
The Sellers are trying to make as much profit as possible and how did they determine the asking price. Were they able to do a Comparative Market Analysis? Probably not, they assumed that because the house down the street sold for $$$ then their house is worth $$$. Each house is as different as people. a Prices are established based on location, condition and upgrades.
FSBO properties are usually overpriced because the sellers do not have all the tools necessary to do an evaluation. Buyers think that because its a FSBO that its a bargain - not so. BUYER BEWARE! Protect your money by using the services of a professional.
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