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re: How much should I offer on a home I like? UPDATE
Posted on 1/20/13 at 1:13 pm to Lou
Posted on 1/20/13 at 1:13 pm to Lou
quote:
I'd also like to know the appraised value of the house, that would definitely factor into what to offer.
Yeah, in this market, I would subtract the estimated out of pocket repairs/updates from the appraisal value, and offer about 85% of that number. Make them counter and you'll see if it's worth the time. If they take off less than $5k of their original when they counter, move on (or leave your original offer stand while you look elsewhere). If they move $5k to $6k, then you can proportionally get it moving to where you're more comfortable with a couple more offers/counters.
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