Ray Peckham Real Estate

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Surfside FAIR MARKET VALUE

Setting the right price is an important first step in getting a home sold. Sellers often wonder if they should spend $200 to $400 for a professional appraisal of their Surfside real estate before placing it on the market.

WAYS TO DETERMINE VALUE IN Surfside

A professional appraiser's opinion of a property's market value is based on the recent sales of similar Surfside real estate. Different appraisers could come up with different numbers. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property. An alternative to a professional appraisal is to ask a professional Realtor for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours.

Surfside Real Estate Contract Options

Finally, the Exclusive Agency Listing allows an agent to list and market your Surfside real estate. The agent will earn a commission if he/she or any other agent sells the property but not if the homeowner finds his/her own buyer. Very few if any agents are willing to agree to spend time, money and know-how on promoting a home without the guarantee of a commission when the home sells.

Many people imagine that the agent who lists their home begins an immediate search for likely homebuyers for Surfside but this is not always the case. The real skill of a good listing agent is her/his ability to market your home to other agents. Usually as soon as your listing agent returns to the office, your home is entered into the MLS and is now available to hundreds, maybe thousands of other agents.

Guidelines for Buying Surfside

Let’s say everything is a GO! You have found the perfect Surfside home. You know you can afford it and it is actually priced below what you expected to pay. What a bargain! Yes there are bargains to be found in Surfside. At this point it is fine to put in an offer on the property but only with a well-planned contingency. Of course, it the home is going to be financed, the lender will want a Home Inspection before agreeing to lend money on the property. However, you need to protect yourself by making an offer SUBJECT TO a clean bill of health from the Home Inspector of your choice. This kind of a contingency gives you an out if the inspector finds a problem with the roof, or foundation or other structural problem that was not apparent to the seller or to your agent. This does not mean you will not buy the house but you will have a good reason to renegotiate the price with the seller.

Surfside. How Much Should You Offer?

A good starting premise is that everyone wants to buy a home for thousands of dollars under market and when the time comes, to sell that home for thousands of dollars over market. This is basic human nature. When you are in the position of making an offer on Surfside real estate property there are certain facts you need to know.

Is it a Buyer’s Market or a Seller’s Market? In a Buyer’s Market conditions favor the buyer. Surfside real estate listings are plentiful, home sales are declining or stagnant. In a Seller’s Market the opposite is true. There are more buyers looking for homes than there are homes available. Your low-price offer is far more likely to succeed in a Buyer’s Market than in a Seller’s Market. How do you know what kind of a market exists? Ask your REALTOR, read the newspaper, check online.

Before You Buy Your Surfside Home

Whether you are a first time buyer or someone who is moving up to a more expensive home it’s a good idea to start by cleaning up your credit report. Let’s say you apply for a loan to purchase an Surfside condo, town home, single-family home or any type of Surfside. The lender will check out your monthly income and outgo to determine if you can afford to repay the loan. Therefore, it is to your advantage to pay off as many high-interest consumer loans as possible. If you are planning on buying a car, a boat or other major purchase, put it off until after you have bought your selected Surfside real estate. Lenders look for certain patterns they consider red flags. These are: late payments, overextension, liens, garnishments and, of course, bankruptcy. Remember, debts reduce the amount of cash you can spend on the Surfside you want to buy, so clear the decks as much as possible before applying for a loan

Buying Surfside Below Market

While the perfect Surfside option at the right price might come on the market within a couple of weeks, don’t expect that kind of time frame. You must be prepared to wait months for right property, and the Surfside is no exception. Remember, most sellers tend to ask MORE than their property is worth, not less so bargains don’t pop up every day. Often times, homes that are on the market for too long a period of time will come down in price as the homeowners get tired of having their house for sale but unless the seller is really pressed, home prices tend to come down is small increments unless there is an unfortunate circumstance that might cause the homeowner to price the Surfside under market for the specific purpose of getting a fast sale.