Posted on: 4 August 2018
When you are searching to buy a house, there are a great many decisions and choices to make to ensure you buy the right home at the right price without any unexpected and expensive issues. Fortunately, there are services and professionals in a variety of fields to help you during this important decision. Here are two professional services you can consider to help you make a smart choice on your next home purchase.
Realtor's Comparative Market Analysis
After searching through homes and you have found one you are interested in, it is in your best interest to find out if the home is priced appropriately for the market. Also you don't want to buy a home at an inflated price and end up owing more than its worth, especially since your mortgage lender may not be willing to lend you the money to buy it.
Your real estate agent will be able to complete a comparative market analysis or CMA to make sure a home is priced appropriately. A home is only worth what buyers are willing to pay, your realtor will select similar homes in the area that have recently sold to compare them and their sales price to the home you are looking at buying. In this analysis, your realtor will calculate a market price for the home, and hopefully it is similar to what the sellers are asking for the home. If the home is over-priced, it is best to reduce your offer to match the CMA. If the seller are not willing to come down in price, it is best to continue looking for a home to buy.
It is important to know the condition of a home you are planning to buy, especially if the home is an older home or is in need of a great deal of repairs. It is important to complete a professional home inspection on the home so you can know of any problems in the home's systems or any repairs it needs. And repairs are not necessarily a bad thing, as you may choose to buy a home at a discount that needs a great deal of work, but you want to be made aware of them.
Once you have made an accepted offer on a home, hire a professional inspector to look through the home, checking its systems and components, such as the furnace, air conditioning, roof, electrical system, and many of the home's appliances. It can be helpful to know what condition the water heater is in, for example, so you know when to expect to replace it. Your inspector will provide you with a report of their findings within a few days.Share