I'm looking at condos in Boston area. I see some decent places between 200K and 250K (decent not great), that I am interested in. I don't have an agent yet and I'm just looking around. Knowing that with taxes, bills, mortgage, savings etc... my buying power is actually 170K, what's a good offer on a 200K condo?
A lot of these places are overpriced and overassessed. I was thinking 150K would be ok with hope that the owner will counteract with a 160-170K. What do you think. What's the basis for a good offer on a brand new place or place with minimal/esthetic repairs?
2007-12-23 07:36:29 · 8 answers · asked by gabyrig 3 in Business & Finance ➔ Renting & Real Estate
If your top end is at $170K, you should be looking at properties advertised for not much more than that. Apparently you are thinking that a $200K condo can be had for $170K. It's possible, but not very likely.
You seem to be thinking that a 20%+ reduction in sale price is normal. It's not.
2007-12-23 08:47:47 · answer #1 · answered by acermill 7 · 1⤊ 0⤋
Realtor reply=If someone came to me with a 170 as the top price I might search as high as 180-185 no higher unless I was looking at foreclosure properties and there are a lot of those out there. It may take longer to close on it so if you are good to stay where you are for maybe 60 days tell them to find you a good foreclosure property- the agent can see which ones are going that way and the offer may get you a "Steal of a deal"! Good luck!
2007-12-23 15:41:37 · answer #2 · answered by helprhome 5 · 0⤊ 1⤋
What are similar condos actually selling for in the area - not list price? You do not want to insult the seller with too low of an offer - they will not think you are serious and may be offended. Ask your agent for comps on SALE price.
2007-12-23 15:39:21 · answer #3 · answered by Sick of Showers 2 · 0⤊ 2⤋
Usually you can start off with 5-10% off of the listing price.
$10K-$20K But be prepared for a counter offer that is within $5K of the listing.
Good luck...
2007-12-23 15:41:56 · answer #4 · answered by Taz 4 · 0⤊ 2⤋
What you should do is research what others in the same building paid for theirs...that will give you a rough idea.
2007-12-23 15:39:56 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Because the market is so dead right now, I would offer them $150,000.
2007-12-23 15:40:09 · answer #6 · answered by Anonymous · 1⤊ 2⤋
hell yea take man i wish i were u jst say 190k i think thell take it
2007-12-23 15:39:19 · answer #7 · answered by Anonymous · 0⤊ 2⤋
$175k
2007-12-23 15:40:07 · answer #8 · answered by CrG 6 · 0⤊ 2⤋