Property Q&A in 04952>Question Details

Peter, Both Buyer and Seller in Stockton Springs, ME

Are they willing to consider an offer for $120,000, I've noticed this house has been on the market forever.?

Asked by Peter, Stockton Springs, ME Fri Oct 10, 2008

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This question is about this property: http://www.trulia.com/property/1046084539-91-Robinson-School…

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Hello Peter- In some ways I'm involved with Re buying and selling as well as an investment vehicle, and I deal with the Maine RE Investment Assoc. as well.
While it may not be public record what the seller's true bottom line is, it is public record what the owner's mortgage balance was- and with some quick math it's pretty likely you can figure out what they still owe on it today as its on the market. Whenever I look at a property on paper to see if it could be had for a low number, I check out this angle.
You need to find out what their payoff amount is at the house closing. That's just one way to pass on one investment property and look at the next option. Thanks, and good luck,
Ken L.
0 votes Thank Flag Link Wed Oct 22, 2008
The house your inquiring about is currently under contract. You never know how motivated a seller is until you make an offer. A house could be on the market a long time because the seller's are unwilling to take less than the listed price or making an offer could get the negotiating ball rolling. Best advice is for you to get an agent so you don't miss the next one.
0 votes Thank Flag Link Fri Oct 10, 2008
Peter,

The only way to know is to find an agent, submit and offer and see what happens. The seller's bottom line is not a matter of public record and isn't something that any agent worth their salt will disclose when asked.

Good Luck!!

Cameron Piper
Web Reference: http://www.campiper.com
0 votes Thank Flag Link Fri Oct 10, 2008
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