Thinking about putting an offer...

On a house. I looked at it on wednesday, then i brough my dad back(he is a contractor). My dad told me what he would do and how much work it needs. He suggested how much to pay for it and what i shouldnt go over. SO this weekend i was goign to bring my husband to look at it, and make the decision if we would put the offer on the table. Now my realtor just called and said there are 2 offers since wed. on the house. Should i bother putting my offer in? WHat should i have ready for the weekend, incase i decide to do it?

Re: Thinking about putting an offer...

YES, put your offer in. You don't know the details of the offer. For all you know, they may not be solid offers and may fall through.

The offer is written, so just be sure to have your numbers all together as far as a deposit is concerned. If you want your offer to look more desirable, the more $$ you put down, the better it is. (In the seller's mind, it's an easier close; that is if it's a reasonable offer)

Good luck!

Re: Thinking about putting an offer...

Yes, I've bought three houses and everytime they said there was an offer in I found out that there wasn't and pretty much knew there wasn't. RE agents do that 1. they want to make the sale, makes sense for anyone who works on commission 2. if you think there are other bids then you will raise your bid = a greater commission for them and a happier seller. Every house for sale always has "other bids on the table". Set your price, bid and only go as high as you want to.

BTW: We did the same thing. My FIL designs kitchens and baths. We were able to get my "disaster/crack den house" for $200K under the appraisal value. Even though it needs a ton of work we will still come out ahead than if we purchased a diamond comparable house.