4 ms·
i'm in the process of closing on a place, myself. i did all homework beforehand, researched the area, used zillow and craigslist and the local MLS. i didn't t
by noodle 18y ago
i'm in the process of closing on a place, myself.
i did all homework beforehand, researched the area, used zillow and craigslist and the local MLS. i didn't trust any of the data provided on any of the sites. i used past sales of comparable homes, price per sqft, etc..
once i got done with that, i contacted the person who appeared to be in control of the most properties that i was interested in. sometimes, to make a sale, a realtor won't double dip if they're both selling and buying agent, so it'll be a discount to you.
after all that was said and done, i got lucky. a lot of this is about timing, being able to wait around for a good deal or speed ahead full tilt to slide in on one in time. i found an estate sale that absolutely wanted to close by the end of the year, and as a result, i'm buying at 25% under the appraisal value, and the appraised value is very conservative because of the market. after things level out, it'll likely appraise another 20% higher.
my tips would be to simply become an expert on what the trends are in the area you want to buy in so that you'll know exactly what a good deal is. unless you absolutely need to move in by a certain date, take your time. the more flexible you are, the better deal you'll land. and once you become an expert in your area, find a realtor who is also an expert there.
- noodle 18y agolet me elaborate on this phrase, as i realize i only put in a half thought and can't edit anymore. "i used past sales of comparable homes, price per sqft, etc.." i did a lot of excel work to compare and graph historical and current costs and such. i knew a number that i considered to be fair for the market, area and building/neighborhood, plus or minus a bit for upgrades/issues and used that number to make my decisions.