Home Buying in 30143>Question Details

Tracey, Home Buyer in West Chicago, IL

want to buy property- seller is way over priced @ 188k. tax assessor has it valued @ 94k. How do I approach and set offer?

Asked by Tracey, West Chicago, IL Thu Feb 16, 2012

Vacant land given by relative-On market since may-Next lot is 45k less-Many for sale in subdivision close by-area land drastically reduced

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We offered 120 cash....and thought that was fair. they took the offer. Thanks for all the advice.
0 votes Thank Flag Link Mon Jul 30, 2012
Have to agree with the post...we have offered good money (cash) for lots and homes just a few miles east of Jasper and owners are unrealistic on what they want for their properties. Or as a Jasper friend calls it "proud of their property" meaning they think it is worth far more than the market value.
I guess everybody has their price point so we move on to another property and they get to "look" at that beautiful but unsold lot or home hoping someone just comes driving by.
0 votes Thank Flag Link Mon Jul 30, 2012
HIre an agent and do what they say! Period.
0 votes Thank Flag Link Thu Feb 16, 2012
If it's overpriced, then make an offer on what it's really worth. Don't worry about the approach. Just make an offer.

By the way, the tax assessment has absolutely nothing to do with the property's value.
0 votes Thank Flag Link Thu Feb 16, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
T - Values are not based on assessed values, they are based on market values. Have your agent prepare a CMA for you which will show, active, pending & Sold properties that justify your offer & determine current market value.
0 votes Thank Flag Link Thu Feb 16, 2012
Dear T,

Please be sure you've done your due dilligence when buying land. The dirt may look the same on top but water and sewer system limitations can effect your ability to build.

Write me at margie@realestatescorecard.com if you have more questions.

Warmly,
Margie Casey
Founder

p.s. Big Canoe is scored on our website.
0 votes Thank Flag Link Thu Feb 16, 2012
Take your check book for earnest money, talk hard and write an offer. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com
0 votes Thank Flag Link Thu Feb 16, 2012
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