They did not accept a offer for around 55k
2006-08-29 16:47:14 · 7 answers · asked by kingpin25 2 in Business & Finance ➔ Renting & Real Estate
You already went too high.
2006-08-29 16:52:42 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Sounds like you are looking at the tax assessment, which rarely if ever will equal the market value.
You may make an offer to buy with something like this language included: This purchase is contingent upon an appraisal by the Buyer's lender of choice appraiser of the subject property equaling or exceeding the value of the contract price, failing which the sale price shall either be adjusted down to the appraisal value or Buyer may declare the contract null and void, all parties to the contract be released from further obligation to the contract and agree to hold each other harmless, with the earnest money be refunded to the Buyer without deduction.
This way if the price is too high then you can either renegotiate the price to the appraisal value or walk away with no further obligation.
2006-08-30 00:34:34 · answer #2 · answered by hithere2ya 5 · 1⤊ 0⤋
Assessment has nothing to do with actual value. What is it worth to you?
If $55000 is all it's worth to you, walk away.
If it's worth more to you, offer more.
If the property was not attractive to you for some reason, you wouldn't have offered anything. Ask yourself what you want it for. If it's to look for a bigger fool, right now is a bad time for that. If you have some use, like say, building a business or living in the home, the question is what are the alternatives?
2006-08-30 02:40:14 · answer #3 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
Assessments are often artificially low, it makes the taxpayers think they are getting away with something.
Buyers and sellers actually set the price. They did not accept an offer for $55K, they obviously think the price is higher. If you are willing to bid more, than you think the price is higher, too.
If nobody bids more, than the seller may decide that $55K is fair enough. If they come back, lower your bid to $50K. 8-)
2006-08-29 23:55:25 · answer #4 · answered by Computer Guy 7 · 0⤊ 0⤋
Not sure about land, but housing market continue to slump. I would wait a little bit. The seller may take it.
Their assessment may be biased and favorite seller. Be aware...
2006-08-30 01:52:54 · answer #5 · answered by Price is what you pay for value. 3 · 0⤊ 0⤋
how badly do you want the land
what is it worth to you
I would not go 1 cent over what it would be worth to me
there has got to be other land you could acquire
2006-08-30 00:02:21 · answer #6 · answered by capollar 4 · 0⤊ 0⤋
Nothing. Is it being sold by Erik Estrada???
2006-08-30 00:50:04 · answer #7 · answered by greg j. 6 · 0⤊ 0⤋