OK so I put in an offer on a townhouse yesterday. The seller purchased it for 260K three years ago. The place needs a lot of work, needs to be updated, and it looks like she put no money into improvements, updates, etc. The Housing market has dropped significantly over the past year to the point where its a strong buyer's market. The seller's asking price is 306K. Everybody I tell this to thinks its rediculously overpriced, due to the market, and due to the amount of work it needs.
My realtor gotb ack to me and said the seller wants 300K minimum becasue she supposedly put 25K into it. into WHAT though? The flooring is this ugly cheap laminant that pumps when you walk on it, the carpets need replacement, the walls resurfaced, and the kitchen and all 2.5 bathrooms updated (it hasnt beenupdated since it was built in 1987).
So I counter offered 280K firm and final offer, I think the seller if full of crap when she says she put 25K into it...it sure does not look it.
2007-06-23
06:17:50
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12 answers
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asked by
Anonymous
in
Renting & Real Estate