Have your agent find recent compairable sold homes prices to see if any offer you may make is within that range. Also ask your agent about competition for the property you want to make an offer on. Sometimes you are better offering your highest and best offer to secure a property rather than chaising the lowest price which may not get you the property.
If your agent has pulled the comps your offer it will show the trend for that home in that particular area. Any seller would be foolish to take 20% less then the current comps. Even Banks holding foreclosures in this market (The Grand Strand) are closing with in the comp range. Starting 20% below may cause you to miss opportunities. You may want to look at the turn over of the properties as well as pricing & revamp your strategy. I recently was presented an offer that was significantly lower then the asking price & there were multiple offers. The seller flat out refused to negotiate the low offer, it was actually 20% under asking. Something to think about. Good luck.
Century 21 Broadhurst & Associates
I'd be glad to help you and appreciate the opportunity. Remember, as mentioned in previous comment with rare exceptions the seller usually pays the broker commissions. That said its really in your interest to be represented, it will make your process so much smoother and better paired with a broker that fits your needs. So regardless of myself or anyone else, find a broker that you like and stick with them, evaluate properties you like and work together on offers one at a time.\
Good luck to you in your journey... Nathan
You really need a buyer's agent to help guide you through the transaction at this point if you don't already have one. They can help you resolve questions like these and protect your interest in the property.
I do not work the Myrtle Beach area, but I know several great agents that do. Please let me know if I can refer you to any of them of answer any other questions you might have.
Each day it's becoming more of a seller's market than a buyer's market. That dictates a great deal in transactions right now.
I would be glad to assist you if you would like me to help you with a market analysis. The market for houses here is changing and prices are starting to move up so it is important to know current market value. Many factors must be considered-sometimes you can benefit from someone who is eager to move and cash closings are quicker, so certainly in that case, cash buyers have an advantage. Please contact me at 843-504-6888 or firstname.lastname@example.org if you would like to discuss further.
Liz Smeltz, Realtor CDPE
Real Living At The Beach
Murrells Inlet, SC