Home Buying in 19401>Question Details

Mhorn18, Home Buyer in

What are some tactics that a buyer can use so they're not taken advantage of and what would be a fair offer for a 125 K home?

Asked by Mhorn18, Thu Aug 30, 2012

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Answers

7
Besides finding a really knowledgable agent (one way is buy using Find a Pro on Trulia.com and then reading what these agents write), I suggest:

1) Check home prices on Zillow.com - the auto valuations there are not perfect, but trends are
2) Ask your agent on what type of contracts there are in your state, ask to get them and then actually read them before starting your house hunt
3) Get a pre-approval to know your buying limits/potential
4) Meet with a loan officer to find out all details of underwriting guidelines, home/condo insurance,
overall mortgage process

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Fri Aug 31, 2012
Without knowing the exact home, there is no way to accurately answer your question. The biggest factors involved are the size and location of the home and what the values are for homes in that neighborhood.

I see that you are asking about the Norristown area. I do a lot of work in the area and I am very familiar with that particular market. I would be more than happy to assist you with any questions you may have on this very big decision you have to make.

Joshua Stein, REALTOR®
Coldwell Banker Preferred - Conshohocken
jstein@cbpref.com
Office:(610) 828-9558 * Cell:(215) 866-8030
Direct:(484) 270-1165 * Fax: (215) 999-5894
PA License #RS317975

If you know anyone who needs help buying, selling or renting in the next 90 days, give me a call so I can help them meet all of their real estate goals.
0 votes Thank Flag Link Fri Aug 31, 2012
I'd recommend aligning yourself with a buyer's agent who will be your advocate - a trusted advisor and skilled negotiator. Good Hunting!
0 votes Thank Flag Link Thu Aug 30, 2012
Hi, if you aren't familiar with the local laws, paperwork involved, and negotiating tactics you should work with an experienced buyers agent. The sellers typically pays the commission and you get full service from your agent. As for a fair offer, nobody can answer that without looking at sold comps and other activity for the area in question.
0 votes Thank Flag Link Thu Aug 30, 2012
Hiring a buyer broker that is well expereinced, full time and full service that can guide you through the buying process is a good start. As far as making an offer, you should never base your offer on an asking price. You do not know if that asking price is at market value or already priced low or priced way too high. Your agent can easily assiss what the home is worth to help you make an offer.
0 votes Thank Flag Link Thu Aug 30, 2012
Use a Realtor and depends on the exact situation of that house. Could be $100k, could be full price. I'd have to see the house with you.
0 votes Thank Flag Link Thu Aug 30, 2012
Usa a realtor you have interviewed and trust ( buyer agent) They then will be working for you. have them investigate the market. a fair offer is 125K but that is not your real question. The answer is how much do you think the house is worth and how much are you willing to offer for the house. Again, find a realtor, get opinions and references, interivew several, and pick one you trust.
0 votes Thank Flag Link Thu Aug 30, 2012
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