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Mdolph6
So in Love....
Member since 3/07 1622 total posts
Name:
A Family of 4
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How do you know how much to offer...
This may be a stupid question but we went and looked at another house yesterday and we really like it....its just alittle more then we would like to spend....We know the people need to get out quick since if they dont they can lose the house they had built somewhere else...but we dont wanna low ball to much that we get laughed at.
Help?? Any advice?
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Posted 12/10/07 8:27 AM  |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: How do you know how much to offer...
I would start by seeing how long the property has been on the market. The longer on the market, usually the more wiggle room you have. Plus, you must know what the absolute top price you are willing to pay for the house. Normally you start anywhere from 10% - 15% below asking and work from there, but if the house is priced accordingly, you won't have much negotiating room. The best person to ask is the REA you are working with, they should be able to give you a guideline and see if that's in line with what your starting number is.
Message edited 12/10/2007 8:53:05 AM.
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| Posted 12/10/07 8:52 AM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: How do you know how much to offer...
Posted by VickiC
I would start by seeing how long the property has been on the market. The longer on the market, usually the more wiggle room you have. Plus, you must know what the absolute top price you are willing to pay for the house. Normally you start anywhere from 10% - 15% below asking and work from there, but if the house is priced accordingly, you won't have much negotiating room. The best person to ask is the REA you are working with, they should be able to give you a guideline and see if that's in line with what your starting number is.
'
Well said - ITA.
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| Posted 12/10/07 9:04 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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Re: How do you know how much to offer...
I agree with the above posters - I would also ask your REA to give you a list of comps - what comparible homes sold from in the neighborhood.
Good luck!
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| Posted 12/10/07 9:07 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: How do you know how much to offer...
Start anywhere from 10-15% off the asking price. Those are always reasonable.
Worse off - they come back and tell you to come back with a "reasonable" offer and you can decide from there what you want to do.
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| Posted 12/10/07 9:24 AM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
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Re: How do you know how much to offer...
Definitely check comps in the area. How long the house has been on the market? In the end...only bid what you feel you can afford and know your absolute highest price you'd be willing to spend and stick to it. Be willing to lose the house and you just may get the house!
Good luck!!!!!!!! 
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| Posted 12/10/07 10:01 AM |
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2Pisces
Life Coach
Member since 2/06 3337 total posts
Name:
Paige
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Re: How do you know how much to offer...
go low Maryann!
Good Luck! 
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| Posted 12/10/07 10:07 AM |
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