Buyers should be looking at the most recent sales in the immediate area that closely resemble a property (size, age, square footage, lot size, recent improvements, etc) when deciding what to offer.
Any offer to purchase I am involved with always includes a financing contingency. If the property does not appraise, the buyers walk away or re-negotiate a price.
How does a seller know if the listing price is reasonable? That is easy....by the number of showings you have for your home. If you are not getting any traffic, you just are not in the game.
I believe there is a short window of opportunity when a house is initially placed on the market. Pricing is the most critical aspect of the process. [You do not have to be a real estate agent to know that.]
If you are considering selling your Brevard County, Florida home or buying in Brevard County, give me a call. Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.
Please read my blog Florida Homes for Sale.