Invalid topic.
| Posted By |
Message |
drewsgirl
My loves
Member since 5/05 3221 total posts
Name:
Amanda
|
how much less would you bid?
Ok - dh and I are going to look at a house on friday..not even sure how much we will like it but want to be prepared..how much less would you bid..here is the scoop on it?
1-The house has been on the market for over a year
2-i know the family is waiting to sell to move where the one daughter moved to
3-house originally priced at over $500 but now down to $399..
s4-till would not pay$399 for it bc thats still more then we are comfortable esp since i am home with dd, it is an old house and while i am dying for a house in a way not in such a rush bc house prices are dropping..
so back to original question if you were going to low ball it and could care either way how it would go - what would you bid?? sorry so long but thanks for the help!
|
Posted 11/27/07 8:22 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Porrruss
Nya nya nya
Member since 5/05 11618 total posts
Name:
Amy
|
Re: how much less would you bid?
Have you priced out other homes in the neighborhood? If not, that would be a good place to start. Don't lowball just to lowball- make sure you're educated on how low you can go for the area.
|
| Posted 11/27/07 8:26 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: how much less would you bid?
I woud bid $349K
but that might change depending on the area and how much work it needed
if you don't care either way- I would forget it- you will find something better
|
| Posted 11/27/07 8:26 PM |
| |
|
|
|
Re: how much less would you bid?
wait a sec..... I'm suspicious of the radical price drop..... was that possibly becuase some other prospective buyer had an inspection and found something hideous like a major structural problem?
|
| Posted 11/27/07 9:55 PM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: how much less would you bid?
Posted by Porrruss
Have you priced out other homes in the neighborhood? If not, that would be a good place to start. Don't lowball just to lowball- make sure you're educated on how low you can go for the area.
ITA - that is a steep price drop - either it was priced waaaay too high or there is structural problems as mentioned. it depends on what has sold recently in the neighborhood.
Prices havent dropped that much in some neighborhoods- prices in nassau-suffolk as a whole actually increased (albeit less than 1%) last quarter per CNN.
good luck!
|
| Posted 11/27/07 10:39 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: how much less would you bid?
Posted by Meaghan729
Posted by Porrruss
Have you priced out other homes in the neighborhood? If not, that would be a good place to start. Don't lowball just to lowball- make sure you're educated on how low you can go for the area.
ITA - that is a steep price drop - either it was priced waaaay too high or there is structural problems as mentioned. it depends on what has sold recently in the neighborhood.
or they need to sell- my Dad dropped his price about $80K last summer- he already bought a place in FL and built a house in 1976 - so he was making plenty and just wanted it gone
|
| Posted 11/27/07 10:45 PM |
| |
|
Jessee
LIF Adult
Member since 3/06 1260 total posts
Name:
Jessee
|
Re: how much less would you bid?
Or they were just very overpriced. I've watched many homes in my area start at close to $600K and are now in the mid-400s b/c the seller just was not pricing it right for the market.
I would say $349 too - all they can do is say no or counter.
Message edited 11/27/2007 10:54:15 PM.
|
| Posted 11/27/07 10:53 PM |
| |
|
Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
|
Re: how much less would you bid?
I say 349 also. If you arent't worried about losing, so be it.
|
| Posted 11/28/07 12:37 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: how much less would you bid?
Posted by Beth1210
Posted by Meaghan729
Posted by Porrruss
Have you priced out other homes in the neighborhood? If not, that would be a good place to start. Don't lowball just to lowball- make sure you're educated on how low you can go for the area.
ITA - that is a steep price drop - either it was priced waaaay too high or there is structural problems as mentioned. it depends on what has sold recently in the neighborhood.
or they need to sell- my Dad dropped his price about $80K last summer- he already bought a place in FL and built a house in 1976 - so he was making plenty and just wanted it gone
thats true too - but you also have to look at the % drop - going from $600 to $580 is less of a % than going from $500 to $4000, kwim?
|
| Posted 11/28/07 8:32 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: how much less would you bid?
I think you need to not even think about it until you SEE the house. Don't lowball just to lowball. Offer what you're willing to pay for the house (or a little less so there is room to negotiate). This should be an educated offer, based on other comparable SALES (not listing) prices in the area.
And if you don't LOVE the house, don't make an offer!
|
| Posted 11/28/07 8:38 AM |
| |
|
BlueDiamonds
mommy to 3 boys
Member since 2/07 3885 total posts
Name:
proud mommy
|
Re: how much less would you bid?
Posted by Kara
I think you need to not even think about it until you SEE the house. Don't lowball just to lowball. Offer what you're willing to pay for the house (or a little less so there is room to negotiate). This should be an educated offer, based on other comparable SALES (not listing) prices in the area.
And if you don't LOVE the house, don't make an offer!
I totally agree. Also make a list of repairs that would need to be done and try to estimate the cost. You will find this out during the inspection but I think it's a good tool to use when deciding on an offer. Good luck!
|
| Posted 11/28/07 9:29 AM |
| |
|
