Where could I look up comparable home sales when considering a house that’s fsbo and no buyer’s agent?
Question by invelvetshoes: Where could I seem up comparable house product sales when thinking about a house that is fsbo and no buyer’s agent?
For a home we are contemplating purchasing, the seller is going to promote it fsbo. He prefers to have no buyer’s agent involved. What’s the best way for me to search up comparable modern residence product sales and latest listings? What are the standard things to examine when carrying out so?
Best answer:
Solution by Dominic
zillow.com
Bedrooms, bathrooms, Square footage, acreage, age of house, area to comparable residence. Become pals with a realtor anyway. If this is a dream residence go for it, but it is a lot less difficult to operate with a realtor and see a lot of inventory and they have a functioning understanding of “real” worth. The seller is making an attempt to save six percent by not listing his residence. But with all the foreclosures out there I am confident there are ten far better offers. A purchasers agent is nothing but free support for you.
Know much better? Leave your personal solution in the comments!
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Comments
You would find the information on recent home sales in his neighborhood in the county recorders office, it would include address and selling price. Then you would need to go to the Property Tax Dept. to find out how big the houses were, how big the lots were, etc.
However, you would need to physically go to the property to compare the quality of the home, including things like carpet, cabinetry, etc.
In most areas this would be very hard for an individual to do. Real estate agents and brokers pay a good amount of money for regular access to this information. You could call the local property tax authority and see what sales information you can find on that area thru them- sometimes they are very helpful and in most states they have that information.
If this is not an option then the best you might be able to do is make sure that your offer is contingent on the home appraising for at least the sales price.
When an agent or appraiser is looking for comparable sales the first thing they use to narrow it down is location. They want the same neighborhood and schools and such- or at least be extremely close by- location is much more important than anything else in valuing a property. You also need to be sure that the sales are recent- six months is the normal cut off point. The houses need to be very close to the same size and have the same features. They need to be of similar age and similar condition.
Any differences will mean that you will need to try and adjust for them. Guess how much an extra bathroom is worth- or how much is that recent kitchen remodel worth?
I would at least try and do this if you have no way of getting any kind of professional help. It is very easy to overpay just because you love the home for some reason.
Also make the contract subject to you being happy with the results of a home inspection that you hire and pay for (and are present at).
You can’t. Even the information on zillow is not up to date. You could agree to pay the Realtor commission and get all the advise and guidance you need to complete this transaction. When a seller doesn’t want an expert involved it could mean they are trying to hide something. Be careful.
you better at least use a real estate lawyer in that transaction, along with a title agent and get a professional home inspection and termite inspection done before making your offer final – NOT doing all these things could be extremely risky and expensive if you don;t find out everything in advance
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