KNOWING WHAT A HOUSE IS WORTH BEFORE YOU MAKE AN OFFER
When you are buying a high-dollar item, such as a house, you need to know what it is worth to you before you make an offer. You cannot predict what the seller will take for the property. The amount that a property will sell for can change every day. It is the price that a real buyer and the seller can agree on that particular day. Since both the seller’s and buyer’s situations can change in a heartbeat, the price that a property will sell for is unpredictable.
The property’s value to you can be established. If you are trying to buy a property that produces a certain amount of cash flow or that has a good chance of appreciation in value because of its location, then you can put a price on ...