What Should You Offer On A Bahamas Home?

When you're ready to make an offer on a Bahamas home, will you gaze into a crystal ball to find the magical price that the sellers will accept? If only it were that easy! There are a number of factors to consider when coming up with your offer, but one of the most important tools is the Comparative Market Analysis (CMA) prepared by your Bahamas Real Estate Association agent.

The CMA takes the features of your house (number of rooms, square footage, age, location, etc.) and compares it to similar listings in your area. You'll see the prices of Bahamas properties that are currently for sale, have recently sold, or have expired without selling. Current listing prices are sometimes irrelevant if not priced properly, but pay attention to the prices at which properties SOLD because that's what purchasers were willing to pay.

If there are a number of sales, throw out the highest and lowest prices in the range and figure an average sales price for the remaining Bahamas homes. Your BREA agent will help you determine how those “average” homes compare to the one you want, so that you can adjust your offer accordingly.

Be sure to note how recently those sales took place. Your BREA agent will help interpret the information so that you can make a fair offer likely to be accepted.