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tate16t
LIF Zygote
Member since 5/06 25 total posts
Name:
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Making an offer?
Is there a rule of thumb or is it based on your opinion of the property and the value of the homes in the area?
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Posted 8/18/06 11:04 PM  |
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LulaBell
:)
Member since 1/06 3508 total posts
Name:
J
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Re: Making an offer?
I would say it depends on how fairly priced it is in comparison to other neighborhood homes, and how much you really want the house. Also, how long it has been on the market.
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| Posted 8/18/06 11:11 PM |
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Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name:
God, bless & heal my DH, JenG's DH Rob & DebG
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Re: Making an offer?
Posted by MrsMadness
I would say it depends on how fairly priced it is in comparison to other neighborhood homes, and how much you really want the house. Also, how long it has been on the market.
I agree with all of the above. Get comps, see how long it's been on the market, see the interest in it (other offers, etc.) ultimately, it's how much you love the house. If it's been sitting long and it's overpriced...go for at least 3% below. The worse that can happen is that they can counter.
I bought in a non-competitive market, but because my house was so below market I had to bid slightly over asking to get it. It all depends.
Good luck! 
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| Posted 8/18/06 11:19 PM |
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jerome8283
LIF Adolescent
Member since 5/06 633 total posts
Name:
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Re: Making an offer?
I think most home owners list a price at least 10 to 15k more than the actual value hoping that the buyer would make the offer they want.
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| Posted 8/19/06 9:35 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Making an offer?
the comps are really important here. Similar homes in the neighborhood ar going for a certain amount of money and that should be a benchmark. Also, the condition and how long it's been for sale. If the sellers are anxious to sell, maybe they are moving or already bought another home they could be more flexible. Mostly, though if you really love the house and want it bid in your comfort zone. They could also be sellers that want their price so coming in with a reasonable bid won't exclude you and will maybe promote a counter offer.
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| Posted 8/19/06 12:50 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: Making an offer?
I think its a percentage more than a dollar amount. We bid around 5% below asking.
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| Posted 8/19/06 7:07 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: Making an offer?
Posted by MrsMadness
I would say it depends on how fairly priced it is in comparison to other neighborhood homes, and how much you really want the house. Also, how long it has been on the market.
i agree
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| Posted 8/20/06 7:42 AM |
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