Would you offer to buy the most expensive item you will ever purchase without knowing its value?
If you are buying a home to live in, I would suggest you have your agent pull comps before you sign the offer. Even if you are getting a mortgage and they send out a licensed appraiser, you could be out several hundred dollars and lose a lot of time by then. The asking price is not really an indication of what the true value is compared to other homes in the area. Other important factors to consider are short sales, REOs, and of course the condition and location of the property as compared to the others that were sold.
Dont lose time and money. Make sure you have a good idea as to the real value of the home before signing the offer.
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