Property Q&A in Lehigh Acres>Question Details

Angela, Home Buyer in Lehigh, IA

we have been pre approved for $80K what is the best offer the owner take on this hosue???

Asked by Angela, Lehigh, IA Tue Jan 6, 2009

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This question is about this property: http://www.trulia.com/property/1072662060-4504-26th-St-SW-Le…

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Answers

7
Angela,
Even though this home is missing an A/C unit, this does NOT mean you will have trouble financing the property if you have the right mortgage company working for you. My company has a program that will accommodate repairs or appliances wrapped into the purchase of the home and the repair or replacement work does not have to be done before you close!

-However, your offer must be competitive because the seller will take the highest and best offer. Get a good realtor to make the offer for you that is within your budget. This will be either cash or financing. Your offer has an equal chance to be considered like everyone elses and only the bank will determine which offer is the best that they will accept.
Cathryn Blair-Bennett
First Capital lending
239-277-9244 Ext. 212
cblairbennett@FirstCapLend.com
0 votes Thank Flag Link Wed Jan 7, 2009
Hi Angela, while all these answers provided have given you great advice, I would like add that you should ask the listing agent when was the last Broker Price Opinion done for this property and if it has not been within the last 3 months to request that they get a new one. Also if your working with an agent ask them to do a comparable market analysis of similar sold properties in a 1/2 or 1 mile radius within the last 3 months to determine what your offer should be, look at the percentage from the listing and sold price to determine what their bottom line is. Most bank owned properties in Lehigh Acres are getting multiple offers and are asking buyers for the highest and best offer. If you have been pre-approved for a specified amount look for a home that meets your size,location,condition and amenities criteria and put in an offer $4k - 5k lower than what you have been approved for to give yourself some room in case the bank counters your first offer. With the values the way they are now is the best time to buy a home and a good investment for home equity in the future. Good Luck with your home purchase. I hope this information has been useful. Take Care now.


John Giddens
Broker-Associate
Century 21 Birchwood International,Inc
0 votes Thank Flag Link Wed Jan 7, 2009
Hi Angela,
This home does not have an AC unit and if you are going to finance the home that could be a problem. Appraisers need to be very careful these days. In this market I would not be afraid to throw out any offer . That seems a little high at 87k in lehigh without an AC unit. Have your agent contact the list agent and see if any offers have been submitted. Contact your mortgage broker or bank and run by them the fact about the AC. Also, unless multiple offers are being submitted do not be afraid to hurt the banks feelings they will counter, or you can resubmit another offer if yours is rejected. Best of luck to you and if you need any help let us know.
Best wishes,
Nancy

Nancy Doyle
239-209-2237 http://www.nancydrealtor.net
0 votes Thank Flag Link Tue Jan 6, 2009
Angela,

You stand to lose nothing by making an offer of $80,000 on this property. If they do not accept your offer you can move on to another property. Let us know if we can assist you in any way.

Best regards,
The Eckler Team
0 votes Thank Flag Link Tue Jan 6, 2009
Angela, by the way, this is a foreclosure and the bank is the owner. The bank has stated that they want to close this month and will consider all offers.

LLoyd Nichols
Right Choice Realty LLC
Realtorlloydn@aol.com
cell: 239-810-2980
office: 239-463-5217
Activerain Local Blog: http://localism.com/neighbor/lloydn
Active Rain Blog: http://activerain.com/lloydn
Website: http://www.mlsouthwestfloridahomes.com
0 votes Thank Flag Link Tue Jan 6, 2009
Angela,
many sellers are motivated by other things besides price. This seller indicates that time is critical for closing so he may be willing to sacrifice dollars for time. If you can close quickly he may be motivated because he doesn't want to make another mortgage payment. There are many possibilities, but you will never know unless you put a written contract in front of him. Then it becomes real to him and he will decide what is most important. Also before making an offer ask your lender if they are able to get everything done on your loan in a timely manner, you don't want to wind up losing your escrow deposit.

If you need assistance or any other questions answered regarding the contract or financing contact us at Hope4HomeBuyers.org we are here to help.

Neil Blair-Bennett
Broker-Associate
Alliance Realty Group
239 645-3798
Hope4HomeBuyers@Gmail.com
Web Reference: http://Hope4HomeBuyers.org
0 votes Thank Flag Link Tue Jan 6, 2009
It's listed for $87,000 and the owner wants it sold this month, so $80,000 may be sufficient. To make offer, please feel free to call me or drop me an email


LLoyd Nichols
Realtorlloydn@aol.com
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
Activerain Local Blog: http://localism.com/neighbor/lloydn
Active Rain Blog: http://activerain.com/lloydn
Website: http://www.mlsouthwestfloridahomes.com
0 votes Thank Flag Link Tue Jan 6, 2009
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