After getting your finances in order, you might be ready to start scheduling home tours to find the right house to buy. When you want to find homes to view, reading home listings is one of the best places to start. As you view home listings, you might wonder what to look for before scheduling tours. Here are some tips to help you learn more about the information that agents place in home listings.
Understand the Listing Status and Sale Type
The first thing to understand is the different types of listing statuses you might encounter as you read home listings. If a home has an "active" listing, it means that the house is for sale and does not yet have a buyer. If the home states "pending," it means that the home is under contract. The buyer and seller reached a deal, but it has not closed yet.
The sale type is another feature you might see on listings, and it tells you what type of sale it is. Most homes have standard sale types, which means a homeowner is selling their house. Some homes have other sale types, though. For example, a bank might own the house and may want to sell it through a foreclosure, auction, or short sale. You can ask your agent to explain these if you see a sale type other than a standard type.
Learn How to Compare Listing Prices per Square Foot
Many home listings will tell you the price of the house per square foot. They determine this by dividing the asking price by the livable square footage of the house. If the listing does not state this figure, you can calculate it. Comparing the price of a home per square foot offers a great way to see if a home's price is right.
Look for the DOM
The third thing to look at is the DOM, which stands for days on the market. This figure tells you how long the house has been on the market for sale. If you see high DOMs with homes, you might question why no one has purchased them yet. If you see a DOM of "0," it means the listing is brand new.
As you read listings, you should take note of these things. If you have questions about home listings, talk to your real estate agent. An agent can answer your questions and schedule home tours for you.Share
13 September 2021
Have you recently found out you’ll soon be moving to a new location? Perhaps, your employer is transferring you to another branch of the company in a different city. Or, you may need to move near a family member in order to take care of him or her. Regardless of your unique situation, you might worry you won’t be able to find a wonderful place to live in your new city on your own. Consider hiring a reputable real estate agent to help you with your house search. This professional should have in-depth knowledge about your new area. On this blog, I hope you will discover the many advantages of hiring a real estate agent during an unplanned move. Enjoy!