| Money Talk |
| Return to Board • Menu • Bottom | Page 1 of 5  |
| Message |
| How much should I offer on a home I like? UPDATE Posted by wegotdatwood List price is 160k.  on 1/18 at 4:54 pmThe good 3 bedroom, 2 bathroom (double sinks in both and a whirlpool tub in the master as well) 2000sq ft, good sized back yard, real fireplace, wood floor in living room (31x18) Nice tile in the kitchen and the kitchen is huge. The bad AC/Heat unit is the original and the home was built in the early 90's. Will need to be replaced soon. Hot water heater, essentially is done and will need replaced even before the ac/heat unit. Counter tops and all appliances are extremely dated. Other small repair to trim and some paint/carpet in 2 bedrooms. We are doing a VA loan and will finance 100%. If this makes a difference, it's a relocation so some company owns the house, no emotional attachment to the place. We were thinking of offering 150k with closing costs paid due to the roughly 10k of repairs we should have in the near future. Add another 10 for to replace the counter tops and replace the appliances. On the market for 130 plus days. This post was edited on 1/26 at 10:20 am Reply • Back to Top |
| How bad do you want it? You probably could offer less, but if you really want it then you dont want to risk insulting the seller. It is def a buyers market though so if you could take it or leave then I think shoot low. Reply • Back to Top |
quote: If it's been on the market for that long, I'd come in further below list price than that. Reply • Back to Top |
quote:why not? it's business, nothing personal. if the house is 160K and needs 20K in repairs/updates, I would offer far less than 150K. In fact, if I liked it, I would offer 130K explaining that I am anticpating another 20K out of my pocket. All they can say is no. I'd also like to know the appraised value of the house, that would definitely factor into what to offer. Reply • Back to Top |
| We want it badly. It's mentally our home. I don't think it's insulting due to the repairs needed. The location is nice, too. Reply • Back to Top |
quote: I agree but that doesnt mean the seller will feel that way. Thats why I said I would certainly offer less than 150 but you could potentially blow the negotiation by going too low. Reply • Back to Top |
| Have you considered talking to the realtor? He cant legally tell you what to bid but if he wants to make a sale and seems like an honest guy then he can put you in the ballpark to ensure everyone gets out happy. Reply • Back to Top |
quote: I would slowly torture and kill multiple puppies to get it for that price. But then I live in DC. A property like that here would probably change hands for slightly under a million depending on the back yard and location. Reply • Back to Top |
| Get it appraised. Reply • Back to Top |
quote: Because the sellers may take an offer that they consider extremely low and decide not to negotiate further. A low offer should be reasonable enough to instigate further negotiations to be considered as a serious offer. Believe it or not there are people that just go around with ridiculously low offers from house to house in a buyers market hoping someone is desperate enough to sell. Reply • Back to Top |
| I have made those offers with intentions to flip the house. Never got any bites cause the offers have to be freaky low to hedge against the risk. Reply • Back to Top |
quote:  My buyers lost two homes this week that went on MLS Tuesday and yesterday because they couldn't view it until weekend. Where I live, it's a sellers market. Return Of The Specs! Reply • Back to Top |
| Offer $142,500. Reply • Back to Top |
| I would say go to $140,000. Just my personal opinion. It's a corporation that owns it essentially. They aren't in the business of owning real estate. They want to rid themselves of the property. You will get a great deal. Reply • Back to Top |
quote: Yep, and there's nothing wrong with that. You understand the process. I'd bid differently if I were buying a house to live in vs looking for one to flip. Reply • Back to Top |
| 147k is our offer I think Reply • Back to Top |
| Too much. Offer less and come up if your first offer is rejected. Reply • Back to Top |
| That includes closing costs paid. Included, that puts home cost at 142k. Will update when I hear back. Offer will be done tomorrow. This post was edited on 1/18 at 7:50 pm Reply • Back to Top |
| Since when does the seller get paid for closing costs? Reply • Back to Top |
| Have you had a home inspection done. Because... quote: Reply • Back to Top • Refresh |
| Return to Board | ||
  Page 1 of 5  | ||
on 1/18 at 4:59 pm to 
on 1/18 at 4:59 pm to 
on 1/18 at 5:04 pm to 
on 1/18 at 5:36 pm to 
on 1/18 at 5:39 pm to