When you find a home you're interested in buying, part of your real estate agent's job will be to determine its value. How much should you offer? If a recent property appraisal exists, your agent should be able to obtain a copy of it for you. If the property is customized, or otherwise hard to appraise, your approval of a professionally prepared appraisal should be considered. If the home is in a tract of similar homes, your agent can prepare a Comparative Market Analysis (CMA). A CMA is a survey of relevant, recently listed, sold and unsold (MLS-expired) properties. It includes comparable property data and valuation adjustments relating to the home you're considering purchasing. Can you offer more or less than the market value suggested in an appraisal or CMA? Yes. Without knowing the value of the property, however, you'll likely pay too much for it.