How much should I offer on a $285k house?
First thing is try to find out what the house is worth in today's market. Once you have established what the True Market Value is, usually 10% below asking price is acceptable to start negotiations, which would give you a bid of $256,500 if the value is $285,000. If you bid lower than that, they may not even counter because your bid was too low. The other thing you have to be aware of is that as soon as you get an accept, you will need to have a licensed inspector do a home inspection on the home to make sure there are no issues that would lower the value of the home. The inspection is your out of pocket expense, but may save you money or headaches in the longrun. It is good to have the home fully examined to make sure the structure is sound, and if there are issues you can use them in negotiations when you are going into contract. Good Luck!
How much should I offer on a house priced at 66,000?
That is pretty unreasonable for the seller, but not for the buyer! How long it has been on the market? If they are desperate to sell, then you may have a shot. I would offer 60,000 and make them pay the closing costs. Just be prepared to walk away. Don't fall for "there are other people bidding on the house." trick either! Go to www.zillow.com to find what the appraised value is on the home. It is free, just type in the address on the top of the page.
How many offers did you make before buying your Bay Area house?
Three. Then the fourth did the trick. But it was quite a learning process along the way. My first offer was a shot in the dark, I had no way of independently evaluating what the house was likely to sell for. When I had missed by a mile, I started to learn more about appraisals and how homes are typically valued. And that is when I realized that most real estate agents and the sellers then were listing homes for about %18 BELOW market price, in order to create a kind of auction atmosphere and garner multiple bids I assume. The more bids, the more likely someone would bid high I’d guess. Because the market was hot, they could apply this tactic. No wonder at first I missed by a mile.So then I did my research, which is tough because many houses in San Francisco do not list their true square footage or they misrepresent it. I bought a laser range finder and I measured each house myself. I started a spreadsheet and tracked all sales in those neighborhoods, and I started to tease apart the proportion of value coming from the house versus what was coming from the lot in that neighborhood roughly.My second bid was right on the mark, identical to the winning bid, but I lost to someone bidding all cash. My third bid I won, but I walked away from the contract once we found mold in the walls of a poorly constructed illegal in-law (which was also still occupied, definitely talk to a real estate lawyer before you buy a home with a tenant.) Then the fourth home came on the market and it was just perfect, and I beat out two other bidders. I’ll never know if I overbid, but I’m really glad that in the end we’re now in this home and in this neighborhood. I feel really very lucky.As an aside, I’d like to argue for building more housing in SF of all shapes and sizes. It shouldn’t have to be this hard! And the artificially constrained supply (thanks to NIMBY political forces mostly) advantages privileged people like me who can take this kind of approach. If we just allowed 10% of the single family lots to be rebuilt with six story apartments, looking not unlike Paris, we could bring prices back to sanity and accommodate families for all the jobs that are here. Even though that would likely reduce my property value, it’s the right thing to do.
How do you make an offer on a house that is not for sale?
If you are in the UK, then the process is very straightforward. Here is what to do:You look the house number on Google Maps, then you register at Land Registry and find the house on there. With as little as £3, Land Registry will allow you to download a copy of the original title deeds which usually have all the info you need to know: registered owner, their address, when the house was bought and how much for.You write them a personal letter saying that you are looking into moving into the area with your wife/husband and would love to buy their house. There is a general consensus that home owners prefer to sell their houses to families, as they are very attached to the house.You put into an envelope and you hand write the address! Only handwritten ones will get opened, everything generic and printed will get straight into the bin.Repeat the process every 3 weeks or so. Sometimes you will need to write the same letters up to 20 times before you get a response, but it does work. Remember, perseverance is the mother of success.
How much lower do you typically offer on a house?
The 30k renovations really only counts on new upgrades as like the kitchen and bathes, new pool, additions and etc. if its just for new roofing, siding, carpet, etc. that's considered as up keep and really doesn't add value to the home. Its best to get a few prices of sold homes in the area that fits close to the one you are interested in, allot of cities now have the tax records on line and you can search by address of homes sold, print them out and include them into your offer to purchase. With the home market down you should be offering in the price range what others have sold for which you have stated around 185k, make sure you make your offer contingent to an acceptable home inspection which will be able to get you out of the purchase agreement should the home inspector find any faults and if there are new additions, the home inspector will make note and ask for building permits, also add that the home owner will bear all cost of repairs up to 2K that the home inspection finds if any and that a walk though prior to closing will be done and signed by booth sellers and buyers. Don't forget to list EVER THING that is to stay with the home, refrig, stove, window dressing, ceiling fans,carpet etc. and when you go through the walk through make note ever thing is there, take pictures of the home at time the offer is accepted, then you can verify that the correct stove, refrig., etc. is the same as you seen when you made the offer. Good Luck Retired Realtor Bill
Buying a house listed at $215,000 how much should I offer?
It depends on what it is worth and how many people will be offering. From 200k to 250k.
If a house is listed at $349,900 what would be a reasonable offer?
We just sold a house. We took $5,000 less than the listing price. We couldn't afford to go any lower. Our Realtor knew this, and would have rejected any offer less than that without even calling us. Be careful of making an offer that is too low. When we made the offer on our new house our Realtor was able to guide us as to how much below the list price was a fair offer. There are many factors to consider. Is the home reasonably priced to begin with? Is there a mortgage balance? Your Realtor should be able to answer your question better than people who have not seen the house and are not familiar with the market area.
If a house is listed 150k and a short sale how much should I offer?
Depends on the market. Is it a buyer's market or a sellers market. If it is a buyers market - that is the buyer had the advantage because the seller desperately needs to unload, underbid. If it is a seller's market, that is you desperately want to buy it, overbid. 15 to 20 % either way, but don't make any offer you can't back up. Make sure you have had the property inspected by an eagle eyed inspector. Ask around to find such a person - most real estate agents know several, depending on what they are looking for.... Don't ever skip having a property inspected, unless you simply intend to raze the property and rebuild. Even then, a competent inspector will tell you about the geography and terrain, the plumbing, trees, grade of your land, etc......
How Much should I offer for a house when the vendour is asking $419000-$439000?
I am buying my first house....I put in a n offer for a house last weekend. I offered 420000 when the advertised asking price was $419000-$439000. The realestate agent called me later and said I was the only offer then he said that my offer was far too low so they would not accept it. (i was confused as it was within the asking price) He said they are going to hold another open inspection this weekend and then close for offers at 5pm on the tuesday. I really would like this house but im not sure what I should do? Obviously I dont want to pay too much.... Any advise would be helpful thanks xx
I want to make an offer on a house. How do I figure out my bidding price?
There’s more to putting in an offer on real estate than simply agreeing to the listed price. While this amount is what the seller may be hoping for, there is room for negotiation. You’ll find negotiating tips at http://www.OpenOffer.com. Of course, if you offer them a lowball amount, then your offer is going to be rejected right away. Rather than run the risk of this occurring, consider a few things first. Neighboring homes will be selling in a particular range. Find out what this range is and base your price off similar properties. Find out how long the house has been on the market and what its condition is. This will tell you if the location needs work and has any long-term problems. Of course, the seller may have special needs in terms of a short time frame or other demands. If you can meet these with your offer, it’s more likely to be successful. By using these factors when you’re submitting a real estate offer, you’ll find that it’s profitable ahead of other home offers submitted at the same time.