Quote:
Originally Posted by Madelaine Amee
I guess I am missing something here .... why would you want to know what the house sold for last time, or the time before? Surely those numbers have nothing to do with what the house is listed for now - which is what you are going to pay, and if you know what you are doing, you are only going to pay what it is worth to you now!
Someone enlighten me please because this makes no sense to me at all.
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You are definitely missing something. I always want to know what the seller paid for the property and when they bought it. If they bought it less than a year ago, made no upgrades, and now want to sell it for $100 K more, I am going to make a much lower offer. Many of these sellers are trying to get the buyer to pay for the real estate commission when they should be paying it. Also, real estate agents always use comparable sales to value and price their listings. Why shouldn't a buyer use the same kind of information to determine the value of a property?