Home Buying in 60630>Question Details

Leng, Home Buyer in Chicago, IL

To make an offer, what percent of the list price is acceptable for properties in the Jefferson Park area?

Asked by Leng, Chicago, IL Sat Oct 25, 2008

I am not quite sure what percent of the list price is acceptable to start to make offer for Jeff Park area properties. I'm looking at a property that has been listed for at least 30 days.

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Answers

4
You should definitely engage the advice of a local real estate professional.

Many sellers have begun pricing very competitively. If you offer too little, and you really want the house, you may find someone else beating you to the contract.

30 Days of market time, in this market, is not a long time at all. It may take 30-60 days for a dilligent buyer to make time to view the choices in the market.

Look at the recent sales closely. This will give you a very good idea of value. If you use good quality comparables as a basis for your offer, and you don't get the house, you will have less regret. If you do get the house, you'll be more confident that you are getting a good value.

A good Realtor could help you with this.
1 vote Thank Flag Link Mon Oct 27, 2008
It depends on the particular situation. You'd be well-advised to discuss this with a good local Realtor.
1 vote Thank Flag Link Sat Oct 25, 2008
Leng,
I focus on the Jefferson Park area and would love to help you.

Bob Chiarito
847.878.3724
chiarito@kw.com
0 votes Thank Flag Link Tue Mar 10, 2009
Leng~ Every property, every situation is different. Have you run comps on the property to see how it's priced? It's a buyers market, but if the property is priced to sell (comps that have closed in the last 30 days), it could sell for asking price, even in this market.

Good luck.
0 votes Thank Flag Link Sun Oct 26, 2008
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