An unbiased guide to buying your first home

Real questions with honest answers

Answer

A: If you have done your homework and if your real estate agent has done a good job you will know exactly what similar homes have sold for in your area. In a hot market your offer might be the amount of the last similar sale. If the market is not so hot you will offer less, typically 10-15% and negotiate from there. Remember that condition is also critical so if the last sale was for a house in very good condition or with upgrades or built-ins you must factor that into the price of the home you wish to buy. If the asking price of a home seems very high it may that the owner really only wants to sell if he can get an unreasonable price so do not waste a lot of time on such homes.

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