Kristina Owens

This is one of the reasons I recommend having a real estate agent for buyers. They can run comps for you and see what similar homes are going for in that specific area. Home prices can vary greatly from area to area and even neighborhood to neighborhood so it is important you are comparing apples to apples. You also need to adjust for things like additional bedrooms, bathrooms, and yard size.

If you are paying cash you are not required to have homeowners insurance. That being said it is of course highly recommended.

I recommend reaching out to your mortgage company and ask them what the options available to you would be. If they would allow them to assume your note they would need to be approved. Please note that does not cover any additional costs that would allow you to make a profit on your home. If they were going to pay additional costs to the current loan that would still be a separate loan or cash payment. Please also ensure all your paperwork is legally documented. I would recommend speaking to a real estate attorney or real estate agent that specializes in short sales.

First I would visit with the realtor and ensure they have explained how they came to the market value. They likely can show you the comparisons they ran to arrive at that number and give you a better explanation. Then compare it to what you are seeing. Make sure the properties you are comparing are similar and in the same subdivision if possible. A different subdivision or area makes a big difference on pricing. Even homes within 3 miles can be priced differently. The homes around you can also impact your homes value. If you have not signed a contract with the current agent fee free to speak to a few more and get their opinion. Ultimately you decide what you want to list the price at. Keep in mind there are things like the home being on the market too long that can make the home more difficult to sell. People assume if a property is not selling there is something wrong with it.

I would recommend always getting a home inspection. This helps protect you from unforseen issues with the home after purchasing. Additionally, if you are financing the property instead of paying cash it could be required by the lender.

If you have not found an agent yet I do have some agents in my brokerage that I believe could assist. If you still need help please let me know.