- How long has the property been on the market?
The length of time a property has been on the market may indicate the seller's
willingness to negotiate.
- Have there been any price reductions during the listing
The amount of any price reduction, as it relates to the overall purchase
price, may indicate the seller's desire to attract an offer.
- Have there been any other offers on the property?
The answer is helpful to your Realtor©. It lets your Realtor© know what offers may
have been turned down and the reasons for it.
- What is the motivation of the seller?
Motivation is the key element in any negotiation. As an example, if the seller
has already purchased a new property, your ability to close quickly maybe a very
attractive element of the negotiation.
- What personal items are included in the sale?
Anything the seller is willing to leave behind that you won't need to buy when
you move in has real value. It is valuable to know this when considering those
items in your offer.
- What is the price range of SOLD properties in the
This information is important since it will indicate the top and bottom of that
- What is the average time on market for properties
in the area?
Short market times may indicate a seller's market. If this is the case, you may
face competition from other buyers.
- What is the list-to-sale price ratio in this area?
This information will indicate seller's past willingness to negotiate and by how
- What is the average sales price per square foot on
recent SOLD properties?
This approach to establish value works best where there are similar homes, lot
sizes and improvements.
- What other known factors about the property or neighborhood
could affect value?
Noise, crime, schools, transportation, etc., are all factors to be considered
when assessing value.