When you’re buying a home, how can you tell if you got a good deal or not?
Real estate agents might say it’s a good deal…
The seller might say it’s a good deal…
But is there a way that you can run the numbers for yourself?
Well, at Flavortown Properties, we’ve been buying and selling real estate in Columbus for a long time now… and we’re pretty darn familiar with the market here.
In fact, the success of our business requires that we always run the numbers on properties to make sure that we’re staying profitable.
Want to know how we do it so you can do it, too?
Here’s the gist!
Determine Fair Sales Price — The easiest way to determine the market value of a home is to look at the sales price of other similar properties in the neighborhood that have sold within the last 3 to 6 months. The more recently they’ve sold and the more similar they are (in quality, square footage, location, and number of beds/baths), the more accurate their sales price will be for determining another property’s real value.
Deduct Cost of Repairs, Updates, Etc. — If the property you’re buying needs a lot of repairs or updates, then it’s important to deduct those costs from the fair sales price you came up with.
Consider Agent Commissions — Also consider agent commissions and closing costs. These will make a big difference in whether you get a good deal or not.
Hope that helps!
If you have a house that you want to sell fast, give us a call at (614) 756-6497. We can make you a fair cash offer, purchase your home as-is, and close in as little as two weeks!
Thanks for taking the time to check out our website. We are local Columbus residents that focus on buying properties off-market (with no commissions) for cash. We are not “flippers” or “investors” looking to pay pennies on the dollar. We are local Buckeyes with families and we focus on buying rental properties. This allows us to make fair market value offers based on comparable sales and needed repairs. We are a small, but mighty team that thrives on helping others and works toward a common goal that provides a positive outcome for everyone.