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Buying and selling: find homes value for the right price

It’s important to find homes value to help you properly assess if it’s the right time to buy. Values are determined by a range of factors that don’t only affect you during purchase time but will also color your living conditions. Good thing though that you can easily find homes value on your own. This way, you can get the information you need as soon as possible so you can also decide about buying as soon as possible.

There are about a couple of things you can do to find homes value. Which one to choose just depends on how much work you are willing to do. The first one, and probably the easiest, is that you can contact a real estate agent and have them look up for you the value of the home you are interested in.

Real estate agents can accommodate you by browsing through multiple listing services or the MLS. The MLS contains information about closed sales in the last several years so there should still be information regarding that home. Can you trust the MLS? Well, appraisers do so you should too. The MLS helps in finding sales that may be connected with determining property value so it is a primary tool that appraisers use.

The downside to using the MLS is that you can only find homes value for properties that are listed. If the home you are interested in went through sales privately, then the MLS can’t help. Fortunately, there’s still the second thing you can do to find homes value: the old-fashioned way. Unfortunately, the old-fashioned way is the hard way.

The old-fashioned way involves you going to the local land registry to look up a deed. Once you have the deed in hand, take note of the tax stamps. You now need to find out what the tax rate was during the last transaction. Here’s how to compute: assume, for instance, that transfer taxes at the time was $5 for every $1000. If tax stamps show that $500 in taxes have been paid, you just need to divide the total tax paid ($500) by the tax rate ($5) and then multiply using the measuring unit ($1000). Purchase price then for this example is $100,000. Knowing the purchase price before your intended purchase can help you find homes value that you’re looking for.

Other than because you’re interested in buying, you can also learn how to find homes value to help you gauge what your current home is valued at. If you have a neighboring property that was recently bought, you can use the two ways mentioned above to determine what the purchase price is. Hopefully the property was listed so you don’t have to go through the trouble of going to the land registry office. Knowing the general value of your current home is really helpful if you’re thinking of selling. That, or you’re just curious. Property values are included in public records anyway so there’s no harm in checking them out.

Find out more about Doing your own house background check and read about Find out who bought this house: doing a property search