Home-Buying Strategy
Be Sure to Get a Comparative Market Analysis

No set rules exist for determining what the best purchase offer for a home should be. In some instances, a buyer can offer significantly below the listed price, while other times offering the full asking price is the best course to follow.

By requesting that the buyer's agent compile a comparative market analysis before the purchase offer is made, the buyer can be provided with a source for the sale prices of similar homes in the area that have been sold, the listed prices for comparable homes in other neighborhoods, and the prices of unsold listings that have expired recently. With the comparative market analysis and with the help of an agent, a well-considered offer price can be reached.

"How to Figure an Offer for a Home," Chicago Tribune (05/05/01) P. 15; Bruss, Robert J.

Abstracts Copyright 2001; Information Inc., Bethesda, Md.

© 2002 Don Marland