Thursday, April 17, 2008

Don't Overpay

If a 1978 Ford Pinto was for sale for $100,000.00 and you bought it for $90,000.00 would you brag about the great deal you made because you bought it for $10,000.0 under the asking price? Doubtfully.

I have made great deals paying more than asking price. Some houses are listed for far more than they are worth; some are listed for less than they are worth. Value cannot be determined by list price.Before making an offer, always have your agent prepare a market analysis showing the value of the property.

Do not depend on tax values either. An owner who disputes value each year will most likely have the lowest tax value. Tax values and web sites that utilize tax values to value properties are not accurate.

Don't fall in love with a house until you close on the property. If you want a great deal be prepared to walk away.

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