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What would you offer?
House is listed at 519K what would you offer. The price is reasonable for the neighborhood and the condition. In this market I am afraid of overpaying.
Thanks.
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Posted 5/6/06 10:22 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
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Re: What would you offer?
without knowing too much about what it looks like, condition, area, beds, baths and basement, etc, it's hard to say.
try offering 10% less, worst they can do is say no or counter offer.
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| Posted 5/6/06 10:45 AM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
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Re: What would you offer?
Posted by architectnycity
House is listed at 519K what would you offer. The price is reasonable for the neighborhood and the condition. In this market I am afraid of overpaying.
Thanks.
Can you get comps for the area? If the house is priced to sell for the area it will go quickly. If the seller is greedy in this market it will sit on the market.
When was the house listed? The longer it's been on the market the hungrier the seller will be for any offers. How many offers have been made on the house? When? What happened? Why is the seller selling? If they are moving out of state or have already purchased a home then they will be getting more desperate with each passing day, carrying two mortgages and a HELOC. Is it an estate sale? If they are just "seeing what they can get", well, that's the hardest situation for a potential buyer to be in. They are probably pretty firm about that price.
Our realtor pulled all houses sold in our town in the last 12 month period... keep in mind you may want to only do 6 month because the market has changed since last August. I'd then find a comparable house for neighborhood, block location, acreage, features and condition.
Many people think condition plays a larger part in the dollar value of a house than it actually does. The majority of the purchase price is tied to land, town, etc. That being said if the house needs a lot of work... it should already be priced with that in mind. Cosmetic/decor changes are not considered against the purchase price.... systems not working, majorly outdated kitchens and baths, yes.
Good luck.
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| Posted 5/6/06 11:10 AM |
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