Home Buying in 60060>Question Details

Jim, Home Buyer in 60060

if a home is for sale at 219 what would be the lowest possible starting point

Asked by Jim, 60060 Sat Jun 5, 2010

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Jim Starwalt’s answer
Well, if you don,t try, you will never get it for ------ . But be careful if you regally like the house. If it is priced to sell fast there may be other bidders out there. In Lake county we have been seeing multiple offers on properties quite frequently towards the end of the Tax Credit time period. We are still seeing that on properties that are priced at true market value!

There is big difference between true market value and priced the same as other similar properties for sale.

I grea up in Mundelein, now live in Grayslake and would be happy to run the comps for you!
0 votes Thank Flag Link Mon Jun 21, 2010
Did you ever buy that house?
0 votes Thank Flag Link Sun Mar 31, 2013
Totally depends on the home....Property could be listed for 219k & be worth 100k or it could be an very aggressively priced foreclosure that is priced for a quick sale.

Have your agent give you comps of what the 'value' or range of value is on the home & go from there.

List price itself is not necessarily an indication of value.
0 votes Thank Flag Link Sat Jun 19, 2010
It really depends on how the property is listed, is it a fair price--keep in mind that if the price is on target for today's market or slightly lower, multiple offers may occur. You need to be aware of recently sold similar properties in the immediate area, review the data and make a determination as to a fair offer--what is your agent suggesting--he/she can best help you.
0 votes Thank Flag Link Sat Jun 5, 2010
$00.00 (give it to me)

The real answer is offer what you feel it is worth. If that comes down to $125 make it. The sellers will either accept, reject, or counter offer.
0 votes Thank Flag Link Sat Jun 5, 2010

You never know how the other party is going to respond, but you can safely assume that the higher the number, the happier they'll be to negotiate with you.
0 votes Thank Flag Link Sat Jun 5, 2010
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