tx_2500

Also take into account that there are alot of variables that go into the pricing of a house. My fiance's parents had their home up on the market for 250 and got a potential buyer reeled in. When they went to appraise the house it came back at 225. They did not lower the price because they didnt have the sell the house, they were just looking to downsize. There was no urgency and to them, the house was worth what they were asking. The market is in the toilet. What the appraisers may come back with isnt the final straw, it just lets you know what its worth in this economy. There are people who absolutley need the money, some who dont really care either way. The problem is, you hardly ever know who is who. They will take into account how long the house has been on the market for and figure that into everything.

What you should have been told by your realtor was the average price per square foot that the houses in the immediate area SOLD for, not appraised for. A good realtor will break it down to what your paying by the sq/ft and then give you advice on what you should begin asking for. In our case, the highest per sq/foot home brought $69 sq/ft and the lowest was $56 sq/ft. We took the advice of our realtor and offered 59. We settled on 60.25. The asking price was 62.50 sq/ft.

Remember, your realtor is working for YOU, not the other person. Unless they have given you reason not to trust them, take advantage of their knowledge and follow their advice. We had another realtor at first and we dropped her like a bad habbit as she was advising us to pay more than asking price, probably to help her own salary.

jumper

Read this quote carefully; the Realtor is working for themselves, not for you. Their incentive is to get the transaction to close for as much money as possible, as quickly as possible, for the least amount of work on their part. The art is for them to balance those three objectives to maximize their commissions over time. Your job is to extract value from them by pressing them for time, advise, and research and to stay within your budget. Then you make your own decisions. Also, much of the paperwork you will sign is to absolve the Realtor of any responsibility in the deal.