Home Buying in Jersey City>Question Details

Michelle, Home Buyer in 07302

making an offer on a development

Asked by Michelle, 07302 Wed Oct 29, 2008

Hello,

I've been eyeing a specific developement for months now and noticed that the units haven't been selling due to the market.

How much below asking price is reasonable to offer?

Thanks,
Michelle

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Answers

4
Thank you for your responses. I don't believe they are allowing agents for new purchases, but only resale.
0 votes Thank Flag Link Mon Nov 3, 2008
Michelle,

I must agree with my fellow realtors, giving an exact answer to your question is impossible without knowing many other factors such as what are the comps that have been sold in the area etc. I would find a good realtor who can assist you. I do know a great realtor in that area and would love to share his info with you if you like. You may contact me via my email sharonandkaren@prunewjersey.com or to my cell 917 294-0356.

This is a buyers market you can offer less and see what the response from the developer. They may be in trouble and willing to negotiate.

good luck - Karen Abramson
0 votes Thank Flag Link Wed Oct 29, 2008
Michelle, if a property is correctly priced you wont get it below asking price. Remember you dont know the sellers motivation. It is far more important to work with an agent who can show you the value of the home by looking at comparable sales and taking into consideration your motivation to buy. Sometimes price is less important than, say, closing date or certainty of closing. I would however respectfully disagree with Paul in that a good agent can represent you very well as a buyers agent or disclosed dual agent. Understand that the agencies that list homes in the developement you like also sell there and are most likely very familiar with the values and specifics . Dont dismiss an agent because someone in their company also lists there.
0 votes Thank Flag Link Wed Oct 29, 2008
You should pick an agent that can look at it an advise you. Make sure they sign a contract obligating them to only work for you as a buyer agent. Don't work with them without a contract.

Paul Howard,
NJHomeBuyer.com Realty
0 votes Thank Flag Link Wed Oct 29, 2008
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