Home Buying in 46319>Question Details

Helenpat, Home Buyer in Griffith, IN

I live in nowrthwest Indiana and have found a duplex that I would like to bid on. Asking price is $139,900 on market for over 150 days. Fair price?

Asked by Helenpat, Griffith, IN Mon Sep 19, 2011

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Just checking in to see if you had any success with the purchase of the duplex. I have shown about 30 duplexes in the past 2 weeks, and have a lot of information that I'd love to share. Take care!

Julie Elisha
McColly Real Estate
0 votes Thank Flag Link Wed Sep 28, 2011
Hello Helen,

You've been offered a lot of good advice, but a reputable agent is key. Depending on the area, duplexes are sometimes difficult to comp out. I've seen deals fall through due to low appraisals. So make sure your agent is doing their homework, and the price you offer is right on. Good Luck!

Julie Elisha
McColly Real Estate
0 votes Thank Flag Link Thu Sep 22, 2011
Hi Helenpat,

First thing you should do is hire a Realtor (if you don't already have one).

Have your Realtor do a Comparative Market Analysis (CMA) on the property using Sold comps within a 1 mile radius of the property (the closer, the better) that have Sold within the last 3-6 months. This will give you current market value - this is what you should base your offer on (not on list price).

Shanna Rogers
SR Reatly
0 votes Thank Flag Link Mon Sep 19, 2011
If you don't have an agent of your own, consider the idea; in order to determine a fair offer, regardless days on the market, comps need to be reviewed, recently sold similar properties in the immediate area, see what the data suggests and go from there....
0 votes Thank Flag Link Mon Sep 19, 2011
Have you spoken to a local agent? Where in NW Indiana is the duplex?
0 votes Thank Flag Link Mon Sep 19, 2011
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