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richosasimohan · Joined: 18 Jul 2007 Posts: 38 23.61 Dollars($)

How much should I offer for a house? How to set value for a house?

miller_st · Joined: 17 Jan 2007 Posts: 918 168.95 Dollars($)

You will be able to know the value of your house after an appraisal is done. Based on the result of the appraisal you will need to decide how much should be quoted for the house.

Your realtor will help you in fixing a suitable price which would result in attracting buyers and will also provide you with some amount of profit from the sale.

Miller

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Get an estimate of the price range in which similar houses are getting sold in your area and fix the price accordingly. MLS should be a good place to look for the price for which houses are selling in your area.

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Richosasimohan,

At first you should know the value of your home by doing an appraisal with help of a local appraiser.

Then to set the value of your home, you can get an idea if you look at how much price, the other houses at your area has been sold in the recent time. Then you will be able to compare the rates and if needed, you can also consult a realtor.

evolovik26 · Posted: Thu Aug 16, 2007 8:51 pm Post subject:

Check for what similar homes in the area are sold and contact a local realtor to verify the value. If you dont have a realtor some research will help. If a realtor is present (representing you ) he should provide you with some idea on home's worth and area popularity. The appraisal will confirm the value once you have made the selection.

jenkin7 · Posted: Fri Aug 17, 2007 5:23 am Post subject:

ok, so one can either go for an appraisal or a comparative analysis of the home prices listed. But which one is the better way? any idea

evolovik26 · Posted: Fri Aug 17, 2007 11:18 am Post subject:

appraisal is more accurate but in determinning the value however you dont want to keep paying for appraisals on every home you see so comparative analisis is cheaper. Also you will have to do an appraisal to get the home you want anyways so should it come in much lower you will have the opportunity to walk away. ( there should be a clause in the purchase agreement) A home is worth only as much as someone is wiling to pay for it. In current market you can get yourself a good deal. Your realtor should be helping you with this, this is what he is being paid for.

richosasimohan · Joined: 18 Jul 2007 Posts: 38 23.61 Dollars($)

Thanks for all your replies

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Richosasimohan,

It's pleasure to help you. If you have any further query, please ask.

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