REALTORSÂ®, when seeking to become a buyer/tenant representative, shall not mislead buyers or tenants as to savings or other benefits that might be realized through use of the REALTORÂ®â€™s services.
Certified Buyer Representative
Senior Real Estate Specialist
Century 21 Princeton Properties
In The Top 2% of Century 21 Agents Nationwide!
Since you are all cash it maybe prudent for you to buy at Auction.
You will likely be getting it at about 50% off.
I believe 10% is too less for All Cash.
However, you need to get a grasp of the whole picture, such as
1.) what are the comprables
2.) how many are likely to foreclose
3.) how many are behind in their mortgages
4.) what is the inventory supply
I cannot in good faith advise you if this is a good or bad bargain because I would need to do a CMA on the listing and recent sales / listings. Before you make an offer you should have all of the facts on the property you want purchase. It is possible that the unit was purchased dirt cheap and then renovates and even with the renovation the seller could be asking for 20 - 30% above what the property is worth.
If you hire an agent to represent you (it does not cost you anything). If you decide to proceed on your own, please do your due diligence before your put your offer in. You do not want to purchase a property that is completely over inflated and becomes difficult for you to resell.
Please do not hesitate to contact me, should you have any additional questions. Good luck on your home search.
Real Estate Agent
I wouldn't mind betting this seller has had this property on the market for some time. Also, please consider whether or not this property is an over priced turkey in the first place. I suggest you use a Realtor in your area to help you make the offer and negotiate this sale. Have the Realtor do a CMA for you before making the offer. If you need help with this, i know good agents in the area that will help you with this, and you the buyer don't pay the commission. A Realtor will know how long this property has been on the market and the properties history, and if it is over priced or not.