Home Buying in 60639>Question Details

B, Home Buyer in 60639

I'm approved to buy up to 200k. I saw this estate sale just went up on market for 299k.

Asked by B, 60639 Wed Mar 31, 2010

I have seen multi-units around 60639 that have been sold for 175k to 199k. My questions is it a reasonable offer of 199k to make since it's an estate sale and they want to hurry on their $$? Thanks.

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3
Despite your possible fear of vulture real estate agents, you should know that working with a buyer's agent costs you nothing. Nada. You will not, EVER, save money by thinking the seller will adjust the price because you are not working with an agent. And in most cases, the seller pays more than if he worked with a reputable buyer's agent. Natural, considering there is no possible way a one time buyer can understand the market like a professional who spends every workday dealing with all imaginable issues regarding property value.

That being said...you have nothing to lose by making an offer. If it just listed, fat chance for getting it for that price. I have seen estates hold on to properties for months, even years until they get their hopeful price.
But yes, eventually, an estate sale should sell for something near the comparables, if not a bit lower.

Brush up on your negotiation skills, knowledge of the local market in the last year, understanding of the rental market, and financing situations, and I'm sure you'll be fine. Really.
0 votes Thank Flag Link Mon Oct 10, 2011
B,

It's best to sit with a Broker and make out a plan for negotiating. Looking at comps in the area would help to determine if it is $199 is a viable price point. If you are not currently working with an agent, and need assistance with this property, or any others, feel free to contact me.

Regards,

Jerry L. Davis Jr.
Broker REALTOR®

2301 N Clark Street
Suite 202
Chicago, IL 60614
Direct: 312.264.1194
Cell: 787.225.6453
Fax: 312.264.1394
Email: jdavis@Rubloff.com

The Prestige of RUBLOFF.
The Power of PRUDENTIAL.
0 votes Thank Flag Link Sun Oct 9, 2011
Many things are possible with good negotiation. Contact me and I would be happy to assist you in hopes of getting the best price possible. I can at least show you where other similar multi-units are selling for.
Web Reference: http://peggysbaker.com
0 votes Thank Flag Link Mon Apr 5, 2010
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