Property Q&A in Walnut Creek>Question Details

Fred Kamal, Home Buyer in Walnut Creek, CA

I attended the open house. Will the owners accept an offer for $1,025,000? I've been pre-approved.

Asked by Fred Kamal, Walnut Creek, CA Fri Feb 13, 2009

I will have 15% down and I have a credit score of 715.

This question is about this property:…

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The property came on the market 12/01/2008 for $1,500,000 and the price was lowered to $1,349,000 on 01/08/2009, which was a $151,000 drop. This might give you some indication of where the sellers are in regards to their desired selling price.

As the others have said, you won't know until you submit an offer for the sellers to consider. It's been on the market for 75 days, so an acceptance also depends on how motivated the sellers are (among other factors). Did you get a good look at the property during the open house? Would you like to take a look at it again where you can take more time to go through the house or are you ready to submit an offer now?

Craig Lawler
Security Pacific Real Estate
Antioch & Walnut Creek
0 votes Thank Flag Link Fri Feb 13, 2009
Hi Fred,
The others are correct, the best thing to do is to write an offer. There are many elements of offers in this market that make an under list purchase price attractive. Please give me a call or email me if you would like to take the next step.
Suzanne Looker
0 votes Thank Flag Link Fri Feb 13, 2009
Hi Fred, if you are truly serious about this property the first thing to do is perform a Comparative Market Analysis to determine its current market value. Without this step you run the risk of insulting the sellers. I can work with you this weekend to develop an offer that would likely be accepted by the sellers using the information uncovered by the CMA and the seller's level of current equity. My contact info can be found via my website below.

Best, Steve
0 votes Thank Flag Link Fri Feb 13, 2009
Hi Fred:

My guess is that they will counter your offer but at least you are in the negotiation stage then. It costs you nothing to try. If you don't have an agent I would be very happy to draw up a market analysis for you to show you what it is probably worth and also to write an offer up for you.

Good luck with this one. It is a great home.

Bernard Gibbons

Bernard Gibbons, Realtor, e-PRO Certified Internet Specialist
J. Rockcliff Realtors, 15 Railroad Avenue, Danville, CA 94526
Phone (925) 997-1585
0 votes Thank Flag Link Fri Feb 13, 2009
Make an offer and have the sellers answer that question. Good luck!
0 votes Thank Flag Link Fri Feb 13, 2009

The only way to find out if the Sellers will accept your offer is to write an offer up, and see if they will or not.

Does that sound like something you want to do. If so contact me and lets do it.

Have a Great Evening Fred. I look forward to hearing from you.

Jerry Flynn
Old West Realty Inc.
0 votes Thank Flag Link Fri Feb 13, 2009
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