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Considering making an offer on home

Posted on 7/1/11 at 1:06 am
Posted by pakowitz
Scott, LA
Member since Jul 2005
2356 posts
Posted on 7/1/11 at 1:06 am
So I'm considering making an offer to buy my first house. I really have no idea about home buying so just looking for some basic info, tips, etc. Some info about the house: 1250 sq ft 3 bd 2 bth. Open floor plan Covered back patio around half n acre of land. Sellers asking 147500.


Ok. Go.
Posted by TortiousTiger
Baton Rouge
Member since Jan 2007
12668 posts
Posted on 7/1/11 at 1:10 am to



nobody is going to be able to help you man.

Many factors go into how well a home is priced. Ask your Realtor and compare comps in the neighborhood.
Posted by LSUtoOmaha
Nashville
Member since Apr 2004
26571 posts
Posted on 7/1/11 at 2:32 am to
Where is it?
How old are you?
Are you married?
How is your job security and do you plan to be where you are a long time?
What is the price per sq foot of recently sold homes in the area?
What is your income?
How long has the house been on the market?
What is the price of rentals in the area...what is your current housing situation?
Posted by C
Houston
Member since Dec 2007
27813 posts
Posted on 7/1/11 at 7:50 am to
Well in this market, the obvious fact is you have to get this house. Many will probably offer the asking price. Your best shot is to add 10%. Also make sure you have a real estate agent and that the seller has an agent to make sure the process goes smoothly. Offer to pay the 6% out of your own pocket if he doesn't want to pay for them. It's well worth it.
Posted by AbsolutTiger
New Orleans
Member since Sep 2006
4796 posts
Posted on 7/1/11 at 8:33 am to
quote:

Well in this market, the obvious fact is you have to get this house. Many will probably offer the asking price. Your best shot is to add 10%. Also make sure you have a real estate agent and that the seller has an agent to make sure the process goes smoothly. Offer to pay the 6% out of your own pocket if he doesn't want to pay for them. It's well worth it.


Posted by LSURussian
Member since Feb 2005
126854 posts
Posted on 7/1/11 at 8:51 am to
quote:

147500.

Meaningless without knowing location, location, location......
Posted by MikeDaTiger23
Lake Charles
Member since Feb 2009
722 posts
Posted on 7/1/11 at 8:59 am to
Kind of a small house for that price..... depending on location. How long has the house been on the market?
Posted by CidCock
Member since Sep 2007
Member since Feb 2011
8630 posts
Posted on 7/1/11 at 10:40 am to
quote:

Kind of a small house for that price..... depending on location. How long has the house been on the market?


It's in NYC, Silk Stocking District
Posted by Ric Flair
Charlotte
Member since Oct 2005
13649 posts
Posted on 7/1/11 at 12:21 pm to
Without any further information, you can start at zillow. Search the neighborhood for recently sold houses. Offer 20% less than the previous two or three houses sold (based on price per square foot) and negotiate from there.
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