While the listing price does provide some insight into the seller’s expectations, the value of the property and the work that needs to be done play a larger role.

When you’re ready to make an offer, as your real estate agent we will sit you down and show you the sale history of properties nearby to help determine the home's approximate value as it compares to the rest of the market. We will look at the last six months of houses that have sold in the same neighborhood, or very close proximity, of a similar size and age.

In addition to recent sales and current buyer activity, you need to factor in your personal needs. Consider the details this house checks off for you, and consider the amount of work you’d have to do.

Take into account details such as:

• Proximity to work, schools, stores, etc.
• Neighborhood amenities
• Age of major systems and appliances, including the HVAC, roof, plumbing and electric
• Deferred maintenance
• Renovations that need to be done

While your agent will help you consider all the factors that lead to the offer price, the price itself is something you have to determine on your own.