Home Buying in Raritan>Question Details

Bev, Home Buyer in Raritan, NJ

If a house is priced at 300,000, how much should I offer.

Asked by Bev, Raritan, NJ Thu Oct 23, 2008

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7
Bev,

There is no one sized fits all answer to your question. Your offer should be based on the value of the home. Nobody here cannot respectfully give you an answer because we do not know the home's condition or even if its priced right. What you need is a buyer's agent who will review recent home sales along with choices that's currently on the market with you. If you do not have an agent I'd be happy to assist you. However I do highly suggest you have someone represent your interests. A home purchase transaction is all too important, especially in today's market.
0 votes Thank Flag Link Thu Oct 23, 2008
And, it depends on the situation of the seller. A short-sale is likely to be priced to sell already. If the seller has equity, bought it sometime ago, he might be flexible in these times. If you know nothing of the situation, don't use a realtor, go by what it is worth to you. And lastly, if you want the house, try 10% below asking price.
0 votes Thank Flag Link Thu Oct 23, 2008
Hi Bev. There's no set answer for how much to offer based on an asking price. Your offer depends on many different factors. Your agent should be helping you to make this decision. If you do not have an agent and would like to tell me more information regarding comps, days on market, condition, etc., then I will better be able to help you.

Jillian Mason
732-586-5488
jillian@jillianmason.com
0 votes Thank Flag Link Thu Oct 23, 2008
Hi Bev,
You are at a very critical stage of home buying right now. Reasearch is vital. It's important that your Realtor do their homework on your behaf. If you do not have a Realtor, contact me, I will do the work for you!
Jeff
Web Reference: http://www.jeffreyvroom.com
0 votes Thank Flag Link Thu Oct 23, 2008
How should we know. We didn't see it.
0 votes Thank Flag Link Thu Oct 23, 2008
The real question is what is it worth... not what is WAS worth 6 months ago... and you are going to need more info than you can get on a website like this.... this is a good place to start, but the data can be old and old data will kill you in a rapidly changing market.

there are just way too many variables to answer the question. Your local market is going to dictate that. BTW, dont listen to the media. Here in Missouri, they have the story all wrong.
0 votes Thank Flag Link Thu Oct 23, 2008
Ask your agent to do a comparative market analysis, or do one yourself by investigating properties just like the one you're interested in.
If the listing agent was smart and the sellers serious, it would be priced right.
0 votes Thank Flag Link Thu Oct 23, 2008
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