Question: How is the price set?

Answer: It is important to price your home according to current market conditions. The real estate market changes continually and market shifts do have an effect on property value. It is essential to select your price based on the most recent comparable sales in your neighborhood. When interviewing agents, study each agent's comparable sales report, which should be no more than three months old. If all agents interviewed agree on a price range for your home, go with the price. Be wary of an agent whose price is considerable higher than that of the others

Question: Is a low offer a good idea?

Answer: In a normal market your offer may be rejected, however, in a buyer's market a motivated seller will either accept or make a counteroffer.

Full price or above offers are more likely to be accepted by the seller. However, there are other things to consider:

Is the offer contingent upon anything, such as the sale of the buyer's current residence? If that is the case, a low offer, even at full price, mayb not be as attractive as an offer without that condition.

Is the offer made on the house as is or does the buyer want the seller to make repairs or lower the price?

Is the offer in cash? This means the buyer has waived the financing contingency. If so, the offer of a lesser price may be more attractive to the seller than a full price offer with a financing contingency.

Is there a secret to good negotiating?

There are several rules to good negotiating. One is to do your homework, learn as much about the seller or buyer as you possibly can. Another is to not reveal too much information to the other party or their agent. Don't get rushed into a decision, no matter how tempting it may be. If you have any doubts, hire someone to help you negotiate.

Question: Are low-ball offers advisable?

Answer: This term is used to describe an offer on a house that is substantially less than the asking price. A low-ball offer can sour a prospective sale and discourage the sller from any negotiations at all.

Always do your homework about comparable prices in that neighborhood before making an offer. It is also handy to know something about the seller's motivation. A lower price may motivate a sller who has to moce or has another house under contract, etc.

Question: Do I have to consider contingencies?

Answer: If your a seller in a seller's market, you probably won't have to consider too many contingencies, as there more demand than supply. However if you are a seller in a buyer's market, when buyer's are few, you should be very flexiable. Granting contingencies also depends on what kind of price you want to get and the condition of your property. Contingencies are written into the contract and are only negotiable during the negotiation phase only.

Question: What is the best time to sell your house?

Answer: There is no best time. Selling a house depends on supply and demand and other economic factors. The time of year you choose to sell can make a difference in the amount of time it takes to sell and in the selling price.

The real estate market picks up in February, with the best selling season going thought May and June. The market slows with the onset of summer. It tends to pick up again after the summer andlasting into November and slows again when buyer's turn their attention to hoolidays.

Question: What is the difference between market value and appraised value?

Answer: The market value of a house is the price it will bring at a given point in time.

The appraised value is the worth of a house that is a appraiser's certified opinion at a gievn point in time.

Question: What contingencies should be put in an offer?

Answer: The majority of purchase offers include two average contingencies: a finance contingency, which makes the sale dependant on whether the buyer is able to obtain a loan from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.

A buyer can forfeit their deposit under certain circumstances, such as backing out of the purchase due to a reason not stipulated in the contract.

The purchase contract has to include the seller's responsibilities, such as passing clear title, maintaining the porperty in the present condition until closing and making any repairs to the property that were agreed upon.