How to Get the Best Price Possible On a Cape Coral Home Part I
Before you start making offers, it is extremely important to know the right way to negotiate the price on a home. Offer too little and you will not only have your offer refused, but potentially anger the sellers. Offer too much and you will end up paying more than you should have for your home. Let me take you step by step through the process of negotiating the best price on a Cape Coral home.
Step 1 - Do a Comparative Market Analysis (CMA)
If you have located a home that you are interested in, the first thing you need to do is determine what the home is actually worth. CMAs compare a property to similar properties that have sold in the area. With a CMA, you can tell if the asking price for the home you are considering is reasonable and gives you a starting point for negotiations. A good real estate agent will be able to assist you with this process as they have access to all of the information on home sales in your area. Make a list of properties that have recently sold and have similar features as your prospective home (i.e., number of bedrooms and baths, square footage, etc.)
Step 2 - Assess the Condition of Homes Recently Sold & Compare
Take your list of similar, recently sold properties and visit each home on the list. Do these properties look better or worse than your prospective home? Condition plays a big role in the final selling price of a home. Remember to be realistic in your comparison of homes.
Step 3 - Assess Each Home's Amenities & Compare
What amenities does your prospective home have that the others don't? What amenities is it lacking? While they won't be as important to the value of a home as other factors like condition and location, they can be the deciding factor in your home purchase. Remember, just because you like a particular amenity, such as a hot tub, it doesn't mean that it will add resale value to the home.
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