I saw a house advertised about 20% below market value and recently renovated with new roof, siding and eletrical works. is this normal? or is it too good to be true? what kind of questions should i ask? I never bought a house before.
thanks
2007-11-20 04:18:23 · 6 answers · asked by jean 4 in Business & Finance ➔ Renting & Real Estate
Hire a buyer's agent who can discuss what's normal for your area, and get a home inspection if you put in an offer.
2007-11-20 04:24:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
This could be a rare find and if it is 20% below market value, you better move fast because it won't be around long. Just go take a look and see if you like it. If you put in an offer have an inspection done to make sure every thing's cool.
The most important question is does it have clear title?. This will be confirmed by the title company once you make an offer and put up earnest money ($500) to be credited to you at closing and returned to you if the property does not have clear title.
Good luck.
2007-11-20 04:35:26 · answer #2 · answered by Anonymous · 1⤊ 0⤋
It's entirely possible that they're more interested in selling it fast than selling it for the most money. Maybe it's a bank foreclosure, maybe they're relocating very soon, maybe it's a divorce situation. It's hard to say. Or, maybe there is some flaw in the house that an inspector would be able to tell you about.
Get a good real estate agent to walk to you though all the steps required to buy a house, and have a full house inspection done prior to your purchase to make sure they're not hiding anything.
2007-11-20 04:29:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Market value is what the present market will pay for it. If previously it was worth 100K but because of the glut of homes on the market it will now only go for 80K that is the market value of the home at the present time. It is a marketing gimmick that is all. If the market value is 100K and no one is willing to pay that for it then that is not the market value. It is 20% less than what the market value was a year or so ago.
2007-11-20 12:02:59 · answer #4 · answered by Pengy 7 · 0⤊ 0⤋
you're likely going to get investors in case you fee it low adequate to sell at once. if it relatively is the case, you could anticipate to get approximately 60% - sixty 5% of what the comps on your community are starting to be. i know how lots you hate having your place on the industry - it fairly s*cks! yet, in case you could purely attempt to maintain it up for a month, and have an magnificent advertising attitude, I wager you would be waiting to cost it approximately 10% under your comps and get a incredibly speedy turn around. i could be arranged to decrease the fee after a pair of million week, and toss stuff in to sweeten the deal - like a 365 days of unfastened cable or something like that. fairly, the deal relies upon upon what form of community you're advertising in. What do people choose or want that ought to likely purchase your place? Interview realtors earlier you %. one. be sure they understand what you like, and that they experience mushy that they might do so for you. sturdy success. everybody continues to be procuring actual belongings.
2016-09-29 21:33:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Find yourself a licensed Realtor to be your buyer's agent (it doesn't cost you anything); they will help you with all of your questions.
2007-11-20 06:20:46 · answer #6 · answered by Slassy Girl 6 · 0⤊ 0⤋