Cindy, Home Buyer in Chicago, IL

merrionette park illinois. a house that is going for 134,900, how much can i offer?Brand new on inside on market for a long time.

Asked by Cindy, Chicago, IL Tue Feb 9, 2010

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Accurate Inspections & Consulting’s answer
Even though it is a buyers market, it is prudent to be reasonable in making an offer. Some buyers tend to think they can 'steal' a house because of a poor market. A lot of houses in this market tend to be priced well if someone actually wants to sell. Starting out at 10% below list should put in in a reasonable ballpark. I would suggest thinking about what price you want to end up at after negotiations back and forth.
If brand new on the inside it will be important to get a good home inspection to see if rehab work was done properly. Also not sure what 'long time' means but a) a long time on the market isn't that unusual these days; b) this could be an indicator that there are issues with the home.
I was just over at 115th/Kedzie washing my car last week.
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0 votes Thank Flag Link Mon Feb 21, 2011
There are 2 on the market at that price in Merrionette Park. One is a short sale. It has been on the market 122 days. The other is owner occupied. The owner occupied has only been on the market 55 days. I don't consider 55 days a long time on the market but the sellers may consider going down. They started at 136,900 and have come down 2000 already so that is a sign they are negotiable. The short sale will depend on what the bank will take. If other offers come in the bank can push yours aside for a higher offer. The best thing would be to have a realtor do comparables of the area and give you an idea of what it is worth. Choose your own realtor for your buyer's agent. It doesn't cost you anything. Then discuss with the realtor what they think you should offer. You have the ultimate decision but a buyer's realtor can give you really good insite to many factors you haven't considered.
0 votes Thank Flag Link Tue Feb 9, 2010
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