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Question for real estate baws
Posted on 3/6/18 at 4:57 pm
Posted on 3/6/18 at 4:57 pm
Say there is a house listed for $254,000, been for sale over 2 years, and is located in a small town with a population under 4000 in South Ar. Only a small % of the population there could afford this home so it may be on the market a very long time. What would you offer the owner without insulting him? I know it's impossible to know the owners situation but what do you think he would take? He's been sitting on it for over 2 years now.
Inb4 tree fiddy
Inb4 tree fiddy
17
Posted on 3/6/18 at 4:58 pm to HogBalls
If it's been for sale for 2 years then the owner is probably pretty set on his price. Probably doesn't need to sell.
Posted on 3/6/18 at 4:58 pm to HogBalls
I don't actually know the answer off the top of my head let me ask an aging trophy wife and/or effeminate guy that only wears dri fit polos
Posted on 3/6/18 at 4:59 pm to HogBalls
What are the comps?
Posted on 3/6/18 at 5:00 pm to HogBalls
quote:
been for sale over 2 years
I'd imagine the seller has gotten offers lower than their asking price in this 2 years....and it appears they have turned every one down. Unless something has changed for them I'd imagine they will turn down your lowball offer as well. So if you are truly interested in the house I wouldn't start any lower than 15K below the asking price...AND be prepared to pay pretty close to asking if you really want it.
Posted on 3/6/18 at 5:02 pm to HogBalls
Have you checked tax value on the home/property? I would get this to see if he is even within 20% of tax value.
Posted on 3/6/18 at 6:27 pm to HogBalls
Well do you want it cheaper or not insult him?
Can’t have both.
Me, I’d offer about $235k
Can’t have both.
Me, I’d offer about $235k
Posted on 3/6/18 at 7:00 pm to HogBalls
What town?
Posted on 3/6/18 at 7:02 pm to HogBalls
Offer 20k under him so he’ll meet you at 244k. I’ve seen this done a few times.
Posted on 3/6/18 at 7:04 pm to HogBalls
$225k then counter then offer $240k
Posted on 3/6/18 at 7:12 pm to Dawgholio
Thanks for the input fellas, I was thinking of offering 200k. I don't want to insult the man for ease of future dealing on said house.
Posted on 3/6/18 at 7:31 pm to HogBalls
frick the insults, offer him what you think its worth to you.
If land is available in the area, what kind of house can you build new for $250,000 ?
If land is available in the area, what kind of house can you build new for $250,000 ?
Posted on 3/6/18 at 7:38 pm to HogBalls
I've had success with this - Get your bank to write you up a pre-approval for the 200k that you want to offer and attach it to the offer. In his mind, that's all you can afford making it far less insulting.
Posted on 3/6/18 at 7:55 pm to go_tigres
quote:
Get your bank to write you up a pre-approval for the 200k that you want to offer and attach it to the offer. In his mind, that's all you can afford making it far less insulting.
This c
Posted on 3/6/18 at 8:01 pm to go_tigres
quote:
I've had success with this - Get your bank to write you up a pre-approval for the 200k that you want to offer and attach it to the offer. In his mind, that's all you can afford making it far less insulting.
Isn't that common practice anyway to have an approval letter match the offer?
Posted on 3/6/18 at 8:59 pm to Mudminnow
Most people don't know to do it to the penny. Most people get pre-approved for x and roll with that regardless of the price.
Posted on 3/6/18 at 9:02 pm to HogBalls
quote:
$254,000
quote:
Only a small % of the population there could afford this home
OT ballers up in that town.
Posted on 3/6/18 at 9:03 pm to HogBalls
Zillow link us the house. We'll tell you exactly how much to offer and not a dollar more.
Posted on 3/6/18 at 9:05 pm to Drop4Loss
Offer what you want to. Maybe you have cash and don’t want to inspect thst closely and can get it done in two weeks. That has some value. I’ve never been insulted by a low offer. And remeber, fear the boom, not the bust.
Posted on 3/6/18 at 9:07 pm to Koach K
Offer 200K
Then the negotiation will begin, or he accepts. If he doesn't even respond, then he was never selling in the first place.
Then the negotiation will begin, or he accepts. If he doesn't even respond, then he was never selling in the first place.
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