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Familyof6, Home Buyer in Cocke County, TN

If a house is listed for 230,000 what would a good offer be

Asked by Familyof6, Cocke County, TN Thu Aug 20, 2009

I want to make an offer on a house that is listed for 230,000 its been on the market for a while now. What would be a good first offer on this house.

Help the community by answering this question:


are you working with a buyers agent? If not get one that will be on your side of the deal.
to offer fair market price in todays market. Alot of research goes into this process. It sounds
like if its been on the market for a while maybe the listing agent did not do there research
or the seller wanted more than what his or her home was worth. Good luck and hope the
end results is that the home seller and buyer are both happy!!
0 votes Thank Flag Link Sat Sep 15, 2012
Your buyers agent is only professional who can render an opinion, provide research determine what is best interest for all parties secure an executed sales agreement.

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0 votes Thank Flag Link Fri Aug 21, 2009
Familyof6: In addition to the sound advice you have already received, you might try and determine what the average home seller sold their home for - versus what they started asking for the home originally. The difference, between the original asking price and the final sales price of area sales, is referred to as the price elasticity of the market. Meaning, what are sellers willing to take around here?

Establishing that percentage might help you and your agent develop a plan of attack.

Before making an unsure offer - do you know a savvy agent in your area? Or would you like me to refer you to one nearby? kevin pellatiro (615)714-7918 kpellatiro@realtracs.com http://signswemustobserve.blogspot.com/
0 votes Thank Flag Link Fri Aug 21, 2009

A good offer is one that is a true reflection of the current local real estate market. Ask your agent to provide you with comparison information that will help you to identify an accurate price range for this property.

Good luck
0 votes Thank Flag Link Thu Aug 20, 2009
Have your agent run comps on what SOLD recently in the same are similiar to the house you are interested in. This will give you a good gauge of what to offer. Also, have your agent ask questions to find out the sellers motivation. This will help in making an offer.
0 votes Thank Flag Link Thu Aug 20, 2009
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