Mistakes First-Time Home Buyers Make
(New York Times) — Comparing Other Sales: We certainly compared the house to others that recently sold in the neighborhood. One down the street, in fact, seemed to be exactly the same on paper. It received four bids and went for about $40,000 over the asking price. But the more we learned about the property we had made an offer on, we realized the one down the street was not exactly comparable. It was on the other side of the street and thus had better views and better parking. Unlike ours, it also had space that could probably be turned into more legal square footage. In retrospect, I wish we had been provided with, and had looked for, more comparable comps before putting in an offer.
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