Negotiating Home Price and Terms Washington DC

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Buying a house could be the biggest investment you will ever make, and you shouldn’t just rely on the Seller’s word. It is important to learn the true value of the property and then negotiate the right price and terms. Here are some tools that can help you:

Use county property information sites
These sites can provide a recorded history of a potential purchase. Using country records allows you to check the legitimacy of seller claims. For example, a property may be listed as a 3 bedroom, 2 bathroom, but the county records say it is a 2 bedroom, 1 bathroom. A red flag should go off in your head. Why don't they match?

County property sites usually list all the Year-to-Date Recorded Sales information based on the purchase property's address. For those in Florida, I provide a page on my website that lists all the property information sites by county at: Florida's County Property Information and Clerk of the Court Websites.

Look at comparable prices in the neighborhood
You can do your own research and get comparable home prices on websites for free if you aren’t using a real estate agent, but if you are using a real estate agent, ask them to provide property comparables for your review.  Make sure you get copies of:

• Pending Sales: These are current properties listed in the Multiple Listing Service (MLS) which have not been sold.
• Sale of Properties from the last three months: These may not always be available, but ask. No sales may be a good sign. Neighborhood stability!
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  NuWire Investor is an online publication that offers quality information about alternative investments such as real estate, commodities and franchises.
  
  Author: Bob Burns
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