Home purchase is a good deal

[Jonathan Radford]

Compare the price to other recent "sold" prices in the neighborhood. This can become tricky very quickly, since rarely will two homes be exact comparisons. This is one of the areas of the home buying process where the help of a realtor with knowledge of the local market and proper valuation techniques will help tremendously.

[jamesadams]

Simple. First Compare everything about the home purchase, including the type, area, overall condition, features, luxurious amenities, neighborhood, and price and then compare it with the current market value of homes with similar features. If that price is cheaper, then it is definitely a good home deal.

Part of it also involves how the buyer feels about the purchase. If they are satisfied with their home, then that's all that matters.

[BrandonD]

Check the house out and see if it needs any major repair work. If it doesn't, point out every little problem you can to drive the price down.