Home Buying in 74601>Question Details

Kut, Home Buyer in 74601

What should be offering price for the house which listing price is $260000?

Asked by Kut, 74601 Wed Sep 9, 2009

Help the community by answering this question:


When making an offer on a house, there are MANY things to consider. Get comps of the homes recently sold (about 6 months back) in the neighborhood from a local Realtor. What is the average price per sq ft? What does this home you are interested in have that the sold homes don't? What is the value of the added options of this home? What do the sold homes have that this home doesn't? What should be the discount for not having those amenities? Answers to these kind of questions can be answered by a professional Realtor that is active in the area you are seeking. Ultimately, it is YOU who must decide what you should offer for the house... but be informed and make an intelligent decision. If you offer an amount and the seller refuses it, it's okay everything is negotiable and they may come back with an offer that is still acceptable to you. Good Luck!
1 vote Thank Flag Link Wed Sep 9, 2009
There are no dumb questions, just answers.
Look at the other homes for sale. If priced too low like many foreclosures they create a bidding war and can sell way above asking.
When you see a steal, buy it. Why be greedy and take a chance of losing it?
I am an exclusive buyers agent and deal with buyers haviing mind sets like yours all the time. After they lose their dream home for a few thousand dollars, I have to console them.
in my market we have a client portal which I send homes with pictures, maps and all details that meet their financial potential and dreams. This educates me as to their likes and dislikes. They are now prepared to know a good deal when they see it.
Exception; If you are looking at a fixerupper. Know what you are doing or walk. Then you are in a position to bargain.
0 votes Thank Flag Link Wed Nov 25, 2009
It is considered in the industry that offering 5% or less than asking price is courteous. There are times one can offer 10% or less and should not offend the seller however it may, depending on the seller. With all of that said the real estate market nationwide is experiencing some very unusual trends and activity that could change past practices.

Hope this helps.
0 votes Thank Flag Link Wed Nov 25, 2009
It would depend on the condition the house is in, how long it has been on the market, and the price that comparable houses have sold for in the past few months. If you will give me this information I can give you a more specific answer.
0 votes Thank Flag Link Wed Sep 9, 2009
in addition to what Jennifer says, ask your Realtor to do a good market analysis for you. In our market we used to go back 6 months, now we do 3. Good luck
0 votes Thank Flag Link Wed Sep 9, 2009
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