Home Buying in 54301>Question Details

Cindie Lauba…, Home Buyer in Green Bay, WI

when making a offer on a house how much under the value would you go on a home for 89,900 please?

Asked by Cindie Laubach, Green Bay, WI Thu Jun 28, 2012

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Tim Page’s answer
If you are working with your Realtor, you’ll want to ask her/him to review all sales within ½ mile from city homes, 1 mile from suburban and 5 miles for homes on larger lots and/or country homes.
Look at listings, closed sales and pending sales.

Place most of the emphases on the closed sales that are most like the property you would like to buy. If you are not using a Realtor, hire an appraiser to complete an appraisal.

If you understand how to select comparable sales, ask a realtor to provide all comps in the area. Many of them will do this for you at no cost. Some may charge a small fee, but it will be worth it.

My website will teach you how to select comparable sales and what to look for when buying.
0 votes Thank Flag Link Thu Jun 28, 2012
That would depend on repairs needed, and can quantify to the seller the reduction of price.
0 votes Thank Flag Link Mon Jan 21, 2013
I live here--tear it down.
0 votes Thank Flag Link Sun Sep 30, 2012
Hi Cindie-It depends. I assume that you have been looking at many homes in that price range and have seen homes priced similar to this that were in a lot worst condition and maybe homes as good as this one, that were priced a little less.
0 votes Thank Flag Link Thu Jun 28, 2012
I guess it would depend upon how much you don't want to buy the property:

You are assuming that $89,000 is the correct Market Value of the property;
Is it?
Have you had a Realtor do a CMA to determine Market Value?
What would you do if the house is worth $98,000
and you try to offer $79,000?
How about if it is worth $82,000 and you offer $87,000 and the Appraisal won't let you get a loan?

Good luck in your quest
0 votes Thank Flag Link Thu Jun 28, 2012
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