i have seen a house that has every thing i need but i think it is well over priced it is on the market for 197,950 it needs loads of work it is a real mess what do you think if i offer 175,000 in this street they sell as soon as they go on but this 1 has been on for over 3 weeks .it is on the market due to marriege break up .be honest please and no silly answers .
2007-07-28 04:54:22 · 28 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Houses are always put on the market over-priced because they cover being knocked down,so go for it.....
2007-07-28 05:01:21 · answer #1 · answered by trish b 7 · 0⤊ 0⤋
A house is only worth what someone is willing to pay. If you are working with a Realtor write it up as $175,000 (FIRM). There are many factors than can be involved (court ordered sale-judge makes decision, what are other homes selling for in the neighborhood, are you approved for $175,000-mortgage and do not for get to have a home inspection-make sure it is written in with your offer-if you see visually the mess there might be more the inspector will catch). Being excited is one thing that buyers get jumpy about. Take a deep breath and put emotions aside. Purchasing a home is a big step and should not be rushed. Write up what you think the home is worth and go from there. DO NOT FORGET THE HOME INSPECTION!!!!!!
2007-07-28 05:33:18 · answer #2 · answered by david Realtor 2 · 0⤊ 0⤋
You can offer whatever you like but it is up to the Seller (Vendor) whether they want to accept your offer. The fact that it needs work on it and that it has been on the market for 3 weeks (not a long time really) does not mean that they have to accept your offer. You could get a survey done and If there is a structural problem, ask them to reduce the price by the amount needed to remedy that problem. If they are desperate to sell they may eventually accept a much lower offer but if I were you, I should bide my time and be patient. If you really want that house and you are desperate to move then increase your offer a little.
2007-07-28 11:40:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It's just business. I'd rather have a low ball than no pitch at all.
Query the property on your counties appraisal districts web page to find the estimated value. Have a contractor provide you a supposal on the necessary repairs. Subtract the repairs from the value of the house, subtract 15% more, then ask for the seller to pay closing costs.
For the past two years it's been so, so, so much more of a buyers market that you pretty much get to pick your price. However, the school year controls a good deal of the real estate market. Do your self a huge favor and wait until after September to buy.
2007-07-28 05:00:35 · answer #4 · answered by Anonymous · 0⤊ 1⤋
Its not out of order to offer a lower price, but i think what you are offering is quite low. The seller might be holding out for the best price possible thats why its still on the market, even if its in a bit of a state, and really three weeks isn't that long.
2007-07-28 05:08:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I would offer $160k and let them dicker up...I always offer less then I am willing to pay so that they can dicker up to what I am willing to pay.
The only thing I would worry about with this particular house is that the people selling it need to agree on the price and if they aren't getting along then they might not get together on the sale price...also hopefully they don't actually owe the $197k because they won't get asking price on the house in this market.
(PS houses are ALWAYS listed higher than what the person expects to get for the house).
2007-07-28 05:09:22 · answer #6 · answered by Anonymous · 0⤊ 0⤋
look at what other houses in the street/area have gone for. if in UK you can use rightmove or my property spy etc. get an idea of what houses in the area in the same state are going for and get a idea of the costs to do it up will be, then give a reasonable answer. its risky as they may refuse to accept any other offers from you as they may consider it cheeky. as they are splitting up they will need to fund two properties so will want the most money they can get, and if they get on, they may be willing to wait. show how much the work will cost and tell them you know the prices of properties in the area and if the maths is correct you should be OK
2007-07-28 11:38:52 · answer #7 · answered by vikki_ricketts 2 · 0⤊ 0⤋
The only risk that you run into in offering much less is to insult the sellers into not wanting to do business with you and that is their right.
However in certain situations it might not be a bad idea to offer less than what is being asked because of the emotional aspects that the sellers are in and they might not care about the financial aspects of the transaction as much as they care to put an end to certain issues that are tied to the property in question.
One person's garbage is another person's treasure
Best of luck on your offer and work with a licensee that knows what they are doing.
2007-07-28 05:01:15 · answer #8 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
There is nothing wrong with asking a lot less than the asking price. The worse that can happen is they say no. When you make your offer, you may want to explain why you think its a lot less. If anything, this will be useful feedback to the seller, who may also be getting other lesser offers.
2007-07-28 22:20:34 · answer #9 · answered by nemesis 5 · 0⤊ 0⤋
I wouldn't hesitate to make an offer, whether it is a lot less than they are asking or not. The worst thing they can do is turn it down, but usually a seller will counter-offer. If they just flat turn it down, you can always offer more if you're willing. Go for it and good luck!
2007-07-28 05:15:24 · answer #10 · answered by That's me 2 · 0⤊ 0⤋
If that is all you think it is worth then make the offer . Obviously the seller may just reject your offer and then the ball is back in your court as to whether you up your offer .
In the meantime if as you say the street is quite popular , then another buyer could nip in first .
This is the dilemma all house hunters go through , bid too low and miss out , bid too high and you might pay over the odds
Good luck
2007-07-28 04:59:28 · answer #11 · answered by Anonymous · 0⤊ 1⤋