Hi Andrea,
Are you working with a buyer boker who can accuratley comp this home for you? If not I live about 20 min from there and could help you in the correct offer price and help negotiate the offer on your behalf as a buyer's agent. If you go through the agent that is listing the house you will not have separate representation ,that agent is reprsenting the bank. Please visit my website at http://www.kimfosterrealtor.com . If you would like my help Please call me at 734-678-7839.

Regards
Kim

Kimberly A. Foster
Senior Real Estate Specialist
Certified Relocation Realtor
Real Estate One
555 Briarwood Cir.
Ann Arbor Mi 48108
Cell 734- 678-7839
http://www.annarborestateproperties.com
http://www.kimfosterrealtor.com
Complimentary Staging Consultation when you list you home with Kim Foster.

Hi Andrea,

I agree with both Scott & Gary about working with your buyer's agent to come up with the best offer.

Something else to consider is how much do you love or want the home. If you want it because it's a good buy, but don't really care if you lose it, come in much lower. If it's priced well, you love it and you don't want to lose it, come in closer to asking price.

As Gary mentioned, some banks prices their properties very aggressively so don't be afraid to go over asking price if you know it's a great deal. For example, when I helped my daughter buy a HUD home, we came in $5K over because it was a great deal and we didn't want to lose it (which we would have done at full asking price).

Andrea,

There is no magic value for a resonable offer. In fact, there are three homes currently for sale for one dollar in the MLS this morning. Based upon their description, they are trying to create a bidding war to obtain higher offers.

As suggested by Scott, the State of Michigan requires buyers agents to work for the benefit of a buyer in a real estate transaction. You should ask your buyer's agent for assistance.

In order to make an educated offer, you really need to determine what current market value is. What it is listed for needs to be discounted for the sake of looking to see what has actually sold and then adding or subtracting value ofr upgrades or needed repairs. When purchasing you should have a buyer broker who can assist you with purchasing a home, you can usually sign one up at no cost to you. They get paid by the listing agent at closing a fee advertised to them in MLS. This way you have someone looking out for you. If you would like a referral of a good buyers agent in that area please email me, I hope this helps and good luck with your search Andrea.