Also everyone has a different definition of what "minor" work is.
Minor to one person may be major to another.
As a general rule, you can expect to pay 90 to 97% of the Asking Price in a normal market.
In other words expect a Seller to come down 3 to 10%, ceteris paribus.
Again, this is a general rule of thumb in a normal, balanced market.
The M Streets fetch a premium because it's a very desirable location to many people.
My best advice is to hire a Realtor who is an Accredited Buyer's Representative who has additional training and certification to represent a Buyer's interest in the transaction. Good Luck !
Jay Narey ABR, ALHS
Keller Williams - Preston Rd.
This is the big rookie mistake - savvy buyers do not let the seller establish the price; they master the marketplace and THEY establish the price.
All the best,
United Real Estate
Coldwell Banker Residential Brokerage
214 882 0082
You would need be qualified for a home mortgage prior to presenting any offer .
Keep in mind a property owner does not "pocket" 100% of sales . The homeowner must pay
1. Closing costs
2. Realtor fees
3. General repairs
4. Taxes 2012 through close date
Contact my office today
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multi Million Dollar Sales Producer
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Kandice Reed VIP REALTY 214-524-3261
Based strictly on these numbers - it will cost the sellers $40,860 to Broker the home. They've prepared to walk away with $413,140. Calculating what it will cost the seller to sale a home, is the best approach when developing an effective offer.
Average sales price to list price in this price range in this area is 3% over about the last 18months. However every home is different. Some have discounted as much as 7%, while some have sold right at list price. The market is starting to heat up again. There are clients in our office right now who have lost bids on 3 houses, including one today at full price.
What we normally do before you make an offer is sit down with our clients. Weigh the pros and cons of the house vs others we've seen in the area. Then look at a lot of different factors including perhaps what price the seller paid for it, current mortgage amount, and a host of other factors, and then help you determine what to bid. Unfortunately every situation is different. Some people might be able to take a bigger hit on price than others.
If you would like to see inside the home just let me know.
You can see more pictures of the home and more info at the link below.