Asking Price, Marketing & Preparation:
The asking price is the starting point from which to negotiate, but actual market value is determined only by what an able buyer is willing to pay. How well the home is marketed & prepared for sale also affects market response.
Location, location, location: neighborhood demographics and benefits, the proximity to area amenities and schools, views, light, quiet, street traffic, access to expressways and public transportation are all major considerations.
Property Size, Amenities & Condition:
Square footage, amenities, outside areas such as yards and decks, quality of construction, structural and mechanical integrity, as well as the upkeep and cosmetic appeal of a property affect a home price.
Interest rates, competition from other properties, the economy and consumer confidence: each influences the sale and the ultimate purchase price. An offer must be tailored in response to market conditions.
Negotiation of Purchase Contract:
The actual negotiation of price and terms of a purchase can make or break the contract. Purchase price, costs of sale, sale contingencies, closing date, inclusion of personal property or fixtures, and other aspects of sale are all totally negotiable.