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Buying Austin Real Estate: Determining Your Offer Price

It is more important than ever to be represented by an Austin real estate professional who thoroughly understands the ins-and-outs of real estate purchase transactions and who can effectively communicate the accurate market value of Austin area homes with the utmost confidence.

When Forte Properties prepares an offer for one of our home buying clients to purchase Austin real estate, we are very aware of the price the seller is asking for the home. But we need to figure out what you want to offer and what are some ways we can come up with an accurate figure?

Determining the price to offer on your future Austin home is a 3 step process. First, we will look at recent sales of similar homes in the immediate area to come up with a range of price. This will give us an average, low and high sales price for the area. Then, we will analyze additional data, such as condition of the comparable properties and the subject property, improvements made, current real estate market conditions and the motivation of the home seller. This will help us help you determine a price you think would be fair to pay for the home. Finally, depending on the negotiating style we choose to utilize, we will adjust your “fair” price and come up with what you want to put in your initial offer.

Determining Austin Real Estate Offer Price: Preparing a CMA

The very first step in determining the price you are willing to offer is to look at the recent sales of similar properties. These are called “comparable sales.” Comparable sales are recent sales of homes that compare closely to the one you are looking to purchase. Specifically, you want to compare prices of homes that are similar in square footage, number of bedrooms and bathrooms, garage space, lot size and type of construction. (Request a FREE Market Analysis)

There are a few main sources of information on comparable sales, all of which are easily accessible by Forte Properties and much more difficult for the general public to access. Two of the main sources of information are public tax records and the Austin MLS.

Today, it is most critical to work with an experienced and knowledgeable Austin Realtor® who knows the local Austin real estate market. When you call Forte Properties at (512)981-6865, you can count on dedicated, personalized service with the experience needed to help you successfully purchase a home for the best price possible in the Austin, Texas area.

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