Sound offer?
Scenario:
Home on the market 27 months/vacant the entire time.
Listed in Jan 2007 @ 499k Current listing 260k
Home if free and clear/passed into a trust in 2006
Comps are listed for an average of 254k selling for avg of 217k or 85% of asking
House is "out of place" in neighborhood. most housing is going for 75-125k
Based on my persoanl ceiling I offered 205k or 79% of asking. I left myself room to move beyond the 85% mark which is the typical sales/list spread in case they don't budge. Was this a lowball/potentially offensive offer?
There is no high or low offer..... What do you want to pay is the only thing you should concern yourself with. The norm is what you set for yourself. What is your walk line?? i.e. what is the most you want to pay for the home?? IF you make an offer and you don't get a counter, make a higher one... remember the seller wants to sell, and the you the buyer wants to buy, - you both just need to meet at some point in between..
No it was not. The Seller's understand that this is a different maket and Buyer's have the right to get their best deal.
The fact that you have researched the maket and the area and can justify your offer, adds credibility to you offer and it should be considered.
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