The key to purchasing anything, particularly a high priced item like a home, is to know what it is currently worth. You need to consult with someone that is experienced and knowledgeable in the market and has sources of data to calculate estimates of current values. In the real estate market, the trained licensed professionals that do this are Appraisers and Real Estate professionals.

HomeBuyerConsultants can provide a buyer data on homes that have been sold in the area, homes currently for sale, history of sales and tax assessment comparisons (not available in some areas). A Comparative Market Analysis (CMA) is provided comparing the home the buyer wants to purchase with other similar homes recently sold in the neighborhood.

With sufficient market value information, the buyer can make an offer to purchase that is reasonable enough to compete with other offers and not have the seller reject the offer without negotiating. The market value information also protects the buyer from unknowingly investing more in the home than it is currently worth.

While a Mortgage Company or FHA may have an appraiser determine the value of the property, it is usually a rough estimate only, is used to determine the amount of mortgage, and to assure the condition of the property makes it eligible for mortgage insurance. However, this occurs after the offer has been accepted and provides no assistance in formulating a reasonable offer.