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ladybug78
LIF Adolescent
Member since 1/06 719 total posts
Name:
K
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Any REA's on here (or homebuyers)? Need help!
DH and I found a house we love...We currently have an apartment at my in-law's house so we have nothing to sell and can move quickly...The seller of this house needs to get rid of it ASAP as he already moved out and bought another house and we know this because the seller is friends of a friend..Anyway, knowing this, in this market, how much below asking price should we make an offer knowing that he is desperate to sell? Any advice would be appreciated!! Thanks!
Message edited 9/20/2007 11:51:05 AM.
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Posted 9/20/07 11:48 AM  |
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Prudential Douglas Elliman Real Estate
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Any Real Estate Agents on here? Need help!
do you think its priced fairly as it is now?
if so, i would offer maybe 5-10% less. and make sure they know you can close ASAP.
Good Luck
 
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| Posted 9/20/07 11:51 AM |
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DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: Any REA's on here (or homebuyers)? Need help!
I would look on MLS and see what other houses are going for. I would be pretty aggressive-he can always counter offer if he wants more
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| Posted 9/20/07 11:52 AM |
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ladybug78
LIF Adolescent
Member since 1/06 719 total posts
Name:
K
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Re: Any REA's on here (or homebuyers)? Need help!
Posted by Meaghan729
do you think its priced fairly as it is now?
if so, i would offer maybe 5-10% less. and make sure they know you can close ASAP.
Good Luck
I think it's priced a little high in this market...Thanks for the advice!
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| Posted 9/20/07 11:54 AM |
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ladybug78
LIF Adolescent
Member since 1/06 719 total posts
Name:
K
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Re: Any REA's on here (or homebuyers)? Need help!
Posted by melijane
I would look on MLS and see what other houses are going for. I would be pretty aggressive-he can always counter offer if he wants more
Other houses on the surrounding streets are going for less than this house and they are pretty comparable in what they have to offer.
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| Posted 9/20/07 11:55 AM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Any REA's on here (or homebuyers)? Need help!
If you think it's priced high for this market, offer at least 10% less as a first offer. We are purchasing our home for more than 10% less than asking and the asking price had already been lowered!
It's a buyer's market. Don't offer too high. Our first offer was approximately 13% below the already-lowered asking price and they accepted it. 
(Mind you, I'm confident we didn't bid too high b/c a comp house, smaller even, in the same development just went for $50k more than we paid)
However, I think 10% below is a fair first offer.
ETA - We were in the same sitaution as with our sellers. We knew the house had been sitting, they have a new place ready to go to, and they were looking for a quick sale. We also were renting, nearing the end of our lease, and didn't have to sell anything first.
Message edited 9/20/2007 12:03:52 PM.
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| Posted 9/20/07 12:01 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Any REA's on here (or homebuyers)? Need help!
Posted by ladybug78
Posted by melijane
I would look on MLS and see what other houses are going for. I would be pretty aggressive-he can always counter offer if he wants more
Other houses on the surrounding streets are going for less than this house and they are pretty comparable in what they have to offer.
Then offer what is fair for the house in your mind based on your research! You may go back and forth a few times on price, but that's okay. Just know what your absolute top price is and don't go above it.
GOOD LUCK!
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| Posted 9/20/07 12:03 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Any REA's on here (or homebuyers)? Need help!
It really depends not on what homes are currently listed at but what they have recently sold for in the neighborhood. What homes are listed at still might be inflated in this market. You can always offer higher but never lower, so go in low and see what happens.
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| Posted 9/20/07 12:05 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Any REA's on here (or homebuyers)? Need help!
Posted by Kara
Posted by ladybug78
Posted by melijane
I would look on MLS and see what other houses are going for. I would be pretty aggressive-he can always counter offer if he wants more
Other houses on the surrounding streets are going for less than this house and they are pretty comparable in what they have to offer.
Then offer what is fair for the house in your mind based on your research! You may go back and forth a few times on price, but that's okay. Just know what your absolute top price is and don't go above it.
GOOD LUCK!
ITA. always start low. Our house had just been lowered $50K. we offered $50K more less than new asking price, we settled at $30K less. They had already moved, it was last winter, and we were able to close ASAP.
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| Posted 9/20/07 12:08 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Any REA's on here (or homebuyers)? Need help!
Posted by JandJ1224
It really depends not on what homes are currently listed at but what they have recently sold for in the neighborhood. What homes are listed at still might be inflated in this market. You can always offer higher but never lower, so go in low and see what happens.
Great point!!
Check out mynassauproperty.com to get current comps for what houses are selling for in that area.
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| Posted 9/20/07 12:22 PM |
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ladybug78
LIF Adolescent
Member since 1/06 719 total posts
Name:
K
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Re: Any REA's on here (or homebuyers)? Need help!
Thanks for all the info! I'll let you all know what happens!
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| Posted 9/20/07 1:44 PM |
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2Pisces
Life Coach
Member since 2/06 3337 total posts
Name:
Paige
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Re: Any REA's on here (or homebuyers)? Need help!
Go for it Kara....go low!!!!!!!!!!
Good Luck 
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| Posted 9/20/07 4:59 PM |
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