Zillow Advice: Buying Process - How can I make sure I dont overpay for a home? http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ Zillow Advice | Zillow Real Estate Finding the right home to ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ <div>Finding the right home to meet your family's needs is hard enough. But knowing how to&nbsp;avoid paying too much for that home once you've found it is another job entirely.<br/><br/><div>Before you begin shopping, understand that there are two homes out there&nbsp;for your interest&mdash;the one that meets your needs vs. the one that fulfills&nbsp;your desires. In a perfect world, you'd find a home that satisfies both. But&nbsp;since this isn't a perfect world, you're going to find yourself confronted with&nbsp;choices.<div><br/><div>Don't let emotion cloud your judgement. Satisfy your needs first. If you find a home that meets your&nbsp;needs and fulfills some of your desires, so much the better. The important thing is to know the difference<div>before you get caught up in the excitement of the hunt.<br/><br/><div>Don't forget the purpose of your "Needs" and "Desires" lists. Shopping for<div>a home is an emotional process. Your heart will cost you money; using your&nbsp;head will save it.<br/><br/>Most important, ask an agent to do a CMA, comparing a home you are insterested with what has sold in the same area within the last 6 months, would give you a good indication if you are paying below, average or high.&nbsp;<br/><br/>I am in McAllen and specialize in investment homes, call me to get more details on what you are looking for.&nbsp;<br/></div></div></div></div></div></div></div> Wed, 25 Sep 2013 23:04:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-25T23:04:00Z A realtor can guide you the ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ <p>A realtor can guide you the best way possible. They can do an analysis of the property and give you a value, and then you can pay for an appraisal to negotiate with the seller.</p> Thu, 23 Jan 2014 02:05:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2014-01-23T02:05:00Z The best way to make sure ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ The best way to make sure you don't over pay for a home is by using a Real Estate professional that will provide the data of current sales in the area of the home you are buying. Thu, 26 Sep 2013 18:23:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-26T18:23:00Z Always make an appraisal&nbsp;an ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ Always make an appraisal&nbsp;an offer contingency&nbsp; It is important in this up and down market to get a professional appraisal. Since this is required by most banks, unless it is a cash deal you will need to get one. Thu, 26 Sep 2013 17:47:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-26T17:47:00Z So there are two ways you ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ So there are two ways you might "overpay":<br/>1.&nbsp; You might pay more than the market price<br/>2.&nbsp; You might pay more than you can afford<br/><br/> Unfortunately, sellers do not always understand the market into which they place their house for sale, and they do not always understand how the blemishes on their property will de-value it, or prevent it from selling. It is your realtor's job to help you to evaluate the market and the condition of the home that you are buying.&nbsp; Together you can agree on both an offer price, and a strategy to convince the seller of the proper price.<br/><br/>To keep from buying more house than you can afford, your mortgage lender can help you to budget not only for the house payment, but also for maintenance costs, taxes, insurance, and utilities required to operate your home.<br/><br/>[Promotion removed by Zillow moderator. Please see our&nbsp;<a style="text-align: right;" rel="nofollow" title="Good Neighbor Policy" href="/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>&nbsp;for information.] Thu, 26 Sep 2013 17:20:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-26T17:20:00Z Have a Realtor assist you ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ Have a Realtor assist you in finding the right home.&nbsp; The Realtor will advise you what the average home sales have been and what a "good deal" price would be.&nbsp; Negotiate based on those recommendations.<br/><br/>Make an appraisal a contingency of your offer.&nbsp; Pay for an appraisal&nbsp; which will give you peace of mind that you are getting a home for a good price. Thu, 26 Sep 2013 12:03:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-26T12:03:00Z As others have noted, an ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ As others have noted, an agent will be able to pull comparable real estate sales from the locale of your desired property and give you an estimated price.<br/><br/>If you aren't comfortable with that, hire a private appraiser - it'll cost you, but that's as close as you're going to get to 'certain'.<br/><br/>Good luck Thu, 26 Sep 2013 10:08:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-26T10:08:00Z Work with a buyer agent who ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ Work with a buyer agent who can do a comparative market analysis of the properties that interest you. Wed, 25 Sep 2013 18:34:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-25T18:34:00Z The best way to go about ... http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ The best way to go about it is to research recent sales in the vicinity of similar properties. &nbsp;That should give you an idea of the value. (you can do this by asking an agent to run comparables or you can research county tax records yourself).<br/><br/>However, that is not always a viable option in areas where the properties are unique or in rural areas. &nbsp;In that case, it might be wise to hire an appraiser to thoroughly review the property and provide you with a current market value. Wed, 25 Sep 2013 18:32:00 GMT http://www.zillow.com/advice-thread/How-can-I-make-sure-I-dont-overpay-for-a-home/512872/ 2013-09-25T18:32:00Z