How much do you offer when a house is selling for 299,00?
If a home is selling for 299,000 has two bedrooms 1 bath how much do you offer? I dont feel the home is worth 9k. Comparable show the last house on the block sold for 265,000. Any info would be greatly appreciated.
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Tags: bedrooms, last house on the block
December 20th, 2009 at 10:14 pm
I would offer 265,00 you may get it for 275,900 good luck.
December 20th, 2009 at 10:14 pm
Start low. They are obviously going high. If the house that sold for $265,000, then do this. Start at $265,000 and subtract $2,500 for each month since that house sold (since property values continue to be stagnant). Then add to that amount for everything that your $299k house has that the comparable doesn’t (ie. add $5k to your offer price if the home you make an offer on has a two car garage and the comparable only has a one car) and subtract for things that the comparable has and the other doesn’t (ie. subtract $5k from your offer price if the home you make an offer on has cheaper countertops, or carpet to the comparable’s hardwood). Hopefully this isn’t too complicated.
No way to tell an ideal offer price, but make sure it’s an offer you are comfortable with- that is, you can get financing and can afford it- and don’t be shy to go low!
December 20th, 2009 at 10:14 pm
I would be pretty aggresive. The market is in the buyers favor and I would use that to my advantage. Put together your research and offer 265. Be ready to defend your offer do your homework.
December 20th, 2009 at 10:14 pm
Don’t be shy to give them what you think is a descent offer. If they don’t like what you’re offering they’ll be sure to senbd you a counter offer. Or, worse comes to worse they’ll probably just laugh in your face and sell to someone else. Then again who knows, you might get what you want.
December 20th, 2009 at 10:14 pm
Offer 80%, $240,000. Hope they come back at 90%, $270,000. Accept no more.