Our Company and our Team of Professional DFW Real Estate Agents specialize in DFW Real Estate, Residential Real Estate, First Time Home Buyers, Condos, Luxury Homes, New Homes, Builders, Commercial, Industrial, Offices, Lots/Land, Multifamily and Investment properties. VIP Realty Platinum's Agents are among the best in the industry. They are results-focused, quality-driven professionals serving the real estate needs in the Plano Real Estate and Dallas Real Estate market.
Before you prepare a written offer to purchase a Plano home you already know what the asking price is. But how do you determine what a fair price you should offer for the home and how do you come up with that amount? Determining the amount of your initial offer can be done in an organized three step process.
The first step in determining the price you are willing to offer is to look at the recent sales of similar homes. These are called "comparable sales" or “comps”. Comparable sales are recent sales of homes that are similar to the one you are looking to write an offer on. Make sure you pay special attention and compare prices of homes that are similar in lot size, square footage, number of bedrooms and bathrooms, garages, type and quality of construction.
Study recent sales of similar homes in your community to determine a price range. Then analyze additional information like current market conditions, the condition of the home, improvements and upgrades made to the home and the circumstances of the seller. If seller is distressed they may take a lower price that the average seller. This will help you evaluate a fair price that you would be willing to pay for the home. Depending on your negotiating ability, adjust your fair price down a little and then determine what you want to put in your initial offer to the Seller.
The best source of this valuable information is through a professional Plano Realtor. Theses Realtors have access to the comprehensive Plano MLS and have access to Active, Pending and Sold homes. All Plano realty listings that have ever been in the MLS will be accessible you your Realtor. It is more difficult to access Plano FSBO Property because, generally, they are not listed in the MLS. Using the MLS your Realtor can create a Comparative Market Analysis “CMA” to show you the averages on the comparable homes in your market area. This is the best tool you can use to help you deterring what the value of the home is.
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