Add this value:
3% if using big bank financing
1% of closing is greater than 40 day
1-3% if list price is below value.
Subtact from value:
1% if your purchase is cash
1% if contingency free
1% if presenting a "Clear-To-Close" instead of Pre-Appraisal.
1% if seller is in purchase closing contract
1% if second level showing activity is below (solds*10)
Confer with your agent
Offer full price with financing and let the banks appriasal beat up the seller
Offer full price and let inspector beat up the seller
There are many ways to make this way more complicated than it needs to be.
This is just one.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Don't you trust his or her input?
Ask the agent to show you comparable homes - as close as you can get to the home you have interest in - look at those currently listed homes, and those currently sold.
Forget the online estimates - they are irrelevant jonathan .............your agent should be able to help you come up with a plan of action.........and come up with a reasonable opening offer that works for you and your comfort level.
The values you get on this or any other site are useless. They provide only the most general sense of what a home might be worth. Your agent should be providing you guidance for this. Ask for a Comparative Market Analysis. This will be a breakdown of the most similar homes sold in the area. Ideally you'll be able to see some pictures and descriptions to see how the homes really compare to each other in regards to updates, improvements or the lack thereof.
Once you see this your range should be narrowed significantly. To determine how much to offer is a huge subject, but it will come down to factors like how much you like it, how competitive the market is for that or similar homes, how motivated the seller's may be, how long it's been on the market, how much activity the property may have had, just to name a few.
List price is not like a used car blue book, it's part of the seller's strategy. Some price high to leave room to negotiate, others low to create a bidding war and some will price in the middle range to see what develops. I hope this helps.