Home Buying in 38109>Question Details

future homeb…, Home Buyer in Memphis, TN

How can I get a deal on a home that has been listed over a year and the price has never been reduced? They are asking 180,000 and it is a model home.

Asked by future homebuyer, Memphis, TN Tue May 31, 2011

The subdivision is great but the area is not. This is just a vacant home that is just sitting there.

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Answers

13
Builders sometimes do not drop the price to a "deal" level in they have a set amount of money to recoup. When you deal with a builder, you may not find the same negotating latitude as with other sellers. If you want to get the best deal possible, work with a real estate agent who knows how to sweeten your offer and negotiate a win-win.

Gerry Peak
Keller Williams Realty
http://www.gerrypeak.com
0 votes Thank Flag Link Tue Aug 30, 2011
Make an offer. Sometimes it takes something in writing to get the seller's attention.
Web Reference: http://www.spake.com
0 votes Thank Flag Link Tue Aug 30, 2011
Is sounds like you already have doubts about the area, why would you force yourself to buy something where you already have a negative. There are so many choices in good areas, why take a risk


David Cooper! Las Vegas Foreclosure Investor in Bank Owned REOs. Save 20% with Freee List
email: davidcooper@lasvegaswinner.org or +1-7024997037
0 votes Thank Flag Link Wed Jun 1, 2011
The advice given so far is good. If you like this home, make the offer with your own agent--not the builer's representative--who will represent your interests only. You may be surprised what the builder may take for this home. "Nothing ventured, nothing gained". Your agent can tell you what the market value is for this home and whether it is the value that your desire or not.
0 votes Thank Flag Link Wed Jun 1, 2011
I'm going out on a limb here, but I would say make an offer?
0 votes Thank Flag Link Tue May 31, 2011
Enlist the assistance of a local Realtor. This could have so many pitfalls that you would never figure them all out. Why not get some help from someone who is experienced? This will be your best chance for success.

Gerald
0 votes Thank Flag Link Tue May 31, 2011
When you make an offer on a model home, you are buying from the builder. . . at least a builder who is still in business. Many builders have gone bankrupt in the current economic downturn and only a few builders are still offering model homes for sale.

BELIEVE ME . . . the current price for the model home you want is already a great deal. The builder is probably selling it for less than he has invested in it. You are going to get a great deal already, and if you qualify for a home loan, you will probably get another great deal because of the low, low interest rate.

Take a second look. You have a great deal staring you in the face. Unless you act now and act quickly, someone else will beat you to it.
0 votes Thank Flag Link Tue May 31, 2011
First know that everything is negotiable.... If you like the home get your agent to make an offer. If you are not currently working with an agent find one. Make an offer and see what happens. It is really that simple, they will either accept, decline or make you a counter offer. What could it hurt?

There are a lot of reasons why a model home would not be reduced. It the builder is still building in the area they usually don't like to budge on price. If there is still new construction and current active sales, there is a good possibility that the seller will not budge. It would help to have the property address to get a better picture of the whole deal.
Web Reference: http://carriecrowell.com
0 votes Thank Flag Link Tue May 31, 2011
You get an agent or Realtor and make an offer. Each has their own theory of what works, you can "low ball" and wait for counter. Another idea is make your very best offer you can and see, after your agent pulls comps to see where the price is at in relation to CMA. Thing is, every single transaction is different. I have gotten property for $125K less than asking price and others where the seller would not budge from full asking price and didnt have to, getting multiple offers on it at full price. Hard to get blood from a stone, meaning if the seller cant write a check, that price might be the lowest they can sell it at, all things a good local agent or Realtor can find out for you.

Best of luck.
Spirit
0 votes Thank Flag Link Tue May 31, 2011
You say it is a model home but is vacant. There could be underlying circumstances and without more information, it is impossible to direct you. It could be a bank owned property, it could have liens on it that make it difficult to get a clear title. But, I would first say, you will never know what type of deal you can get until you PUT IT IN WRITING and at least try!
Web Reference: http://www.lipseyshaner.com
0 votes Thank Flag Link Tue May 31, 2011
Call me! Let's go over the details! I can get you an awesome deal!

901 338 9043
0 votes Thank Flag Link Tue May 31, 2011
If you would like, you and I cam make an offer and negotiate the price you want. Contact me and we will talk more about it. Usually we can negotiate home prices like that.

901-338-3051
Hamzaibrahim1@yahoo.com
First National Realty
0 votes Thank Flag Link Tue May 31, 2011
Did you call the listing agent and asking them why it is still available? Try and get the comparable sales and other listings for a similar house.

David Cooper! Las Vegas Bank Owned Foreclosure Investor
Save 20% and more.. For Freee Daily List
email: davidcooper@lasvegaswinner.org or Call +1-7024997037
0 votes Thank Flag Link Tue May 31, 2011
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