What is a Comparative Analysis?
Beaufort and Morehead City, North Carolina
The following pages provide information on comparable properties - properties that most closely match your property's specific characteristics. This is how we determine fair market value.
The Definition of Fair Market Value
It is the highest price estimated in terms of money a property will bring when it is listed on the open market by a willing seller. The process involves allowing time to find a willing buyer (where neither buyer nor seller is acting under compulsion). Additionally, both buyer and seller must have full knowledge of all of the uses and purposes to which the property is adapted and capable of being used.
Market value supposes perfect knowledge on the part of the buyer and seller. Because this perfect world rarely exists, estimates are generally indicated as a range.
Your property evaluation is based on a review of the following information: comparable sales; competitive listings in escrow; square footage; location; amenities; property condition. This is the information commonly used by professional appraisers in evaluating properties. Sometimes existing financing on the property is also considered.
Data comes from reliable sources such as the local association of realtors, local real estate firms and title companies. While a report does not contain every property of comparable value for sale now, it does represent a workable cross section of competitive real estate inventory. Furthermore, properties are seldom exact in comparison. A comparative market analysis is simply designed to be a good reference source. The price you ultimately receive will depend on many factors (i.e., your motivation, the motivation of the buyer, specific market conditions, etc.).
Once you have tested the market at your listing price, your agent will make periodic reviews to ensure the price remains competitive.
Capital Gains in Real Estate |
What is a Comparative Analysis? |
Five Reasons a Property Sells
Creating Curb Appeal |
Improving Your Home's Interior |
Home Values
Do You Want To Sell Your House |
Preparing For Home Inspection |
How to Speed Up Your Sale
Importance of Intelligent Pricing |
The Listing Agreement |
Marketing Plan To Sell
Maximize your Home Sale! |
Moving Tips for Sellers |
Selling Price -vs- Timing
Things to Do Before You Sell
Please Contact Copeland Real Estate about selling your home, land, commercial property or other real estate in Beaufort or Morehead City, North Carolina.
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