What to offer

Question, we found a townhouse we loved that is perfect for us and listed at $279,900.
Here is what needs to be done:
update AC unit
new washer/dryer
closest doors

What would be an appropriate offer. Is 260K insulting? Should we try for 262K or go to 265K. I'm ok if they counter. They are moving to North Carolina but they haven't purchased anything. Now we are pre-approved and we don't have anything to sell.

Thanks ladies, I'm so excited but I don't want to get my hopes up yet. We really want this unit. I don't want to say where it is because its a new listing and hasn't been posted on MLS yet (because I know we are all in competition with each other).

Re: What to offer

do you know what comparable units have sold for recently?

Re: What to offer

I don't have a sold listing batch, how would I get that?

Re: What to offer

That seems a bit low (260K), even considering the upgrades that need to be made (less than 5K at most).

If they haven't bought anything yet, the listing is fairly new and it is listed the same as comps in the area, they will at best counter but I doubt they will accept 260K.

Maybe 265K and they will counter.

If they already bought in North Carolina it might be a different story, you'd have that to your advantage.

Re: What to offer

we were thinking $265K. The realtor says they will take 270K, so at least 265K isn't too far off from what they realisticallly want

Re: What to offer

Re: What to offer

you have FM meg

Re: What to offer

I would go for 260k and see how they response. YOu have to make the offer palatable too by putting in 20% or more down and also be preapproved.

Go to zillow.com to check for other similar listings to do a comparable market analysis.

Good luck! Condos are hopefully not as in high demand as houses in LI so you may luck out.

Re: What to offer

I would recommend going in with a bid that you are most comfortable starting with, and what you can afford, whether it's 260 or 265 or somewhere in btw. Just expect a counter. Good luck Kerry and let us know how it goes!

Re: What to offer

I thought you didnt want a townhouse or a co-op/condo?

I think 260-265 is good to start with. Do you know how long its been onthe market or if they already bought a new place?

Re: What to offer

$265 sounds fine, $260-262 sounds a bit low considering what needs to be done. You can check out mynassauproperty.com to get an idea of what other units have sold for in the area, though it's really difficult to use those as a guide at this point. Anything that sold before the summer is likely to have a higher price than what people will get today.

If the place has been for sale for awhile, or if you know the sellers are moving to another state and are very motivated, you may want to try the lower offer.

You could always tell the seller's realtor the lower offer and see what reaction you get (though they will likely try to drive you higher even if they know the seller will take the lower price).

Good luck!

Re: What to offer

we will be placing our offer this week for $260K, the worse case scenario, they decline it without countering and we move our offer to $265K. Thanks girls for all your help, fingers crossed!

Re: What to offer