Home Buying in Amarillo>Question Details

House4me, Home Buyer in Amarillo, TX

How do I know how much to bid when listing price for 1,787 sq feet home is 149,500 and comps say low 136 avg 141 and high 149,900.?

Asked by House4me, Amarillo, TX Mon Mar 12, 2012

Need help figuring offer on home

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3
Add the two together and divide by 2... you get 138.5 is a good rule of thumb..also. before buying and before getting an Inspection ..do YOUR home work. YOU look at the roof, You look at the painting .. you test plugs, look under the sinks, look for stains on water fixtures look in the attic ... look at the foundation and cement around the foundation... look at the grass and bushes, ask next door if they have seen the owers do repairs... YOU YOU YOU can save a lot of money and can know if you have a good inspector.. most don't care, they take your money and they don 't even know codes or what is really wrong.. this is one step that needs to be reworked in the mortgage system
1 vote Thank Flag Link Sat Jun 16, 2012
House....

This is a question best addressed by a competent local real estate professional. One that is willing to dig in and explore specifics. A price range of between $136,000 and $150,000 doesn't reflect the specifics of the subject property and current market activity. A closer look at overall condition, size, location, upgrades/updates, etc. should provide you with the information you require to make an accurate and defendable offer.

Simply stated, you need to place the seller in the position of defending their price point. Once you have successfully proven that your numbers are an accurate reflection of the local market....you'll find you have their attention.... If not, it may be time to begin exploring other options.

Good luck,

Bill
0 votes Thank Flag Link Sat Jun 16, 2012
Additional info Price per sq foot is 83.88 and avg cost is 78 per sq ft. Tax appraisal shows 127,000
0 votes Thank Flag Link Mon Mar 12, 2012
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