Home Buying in 30005>Question Details

Shakti, Home Buyer in Alpharetta, GA

on a new home in alpharetta, fulton county, GEORGIA, what should be the best initial offer price %. Can i?

Asked by Shakti, Alpharetta, GA Fri Apr 11, 2008

start from?
20% down, is that best. I am talking about an inventory home.

Help the community by answering this question:

Answers

7
Shakti,

I am a very experienced Realtor and live in Alpharetta.I sell properties all over North Fulton as well as other areas throughout Metro Atlanta.

You need an experienced Realtor that knows the area and how to work with the builder on your behalf. The experienced agent has lots of information that will help you immensely in making sure that you are working with a reputable builder. The representatives in the Sales Office/Model Homes work for the builder and will not represent you in terms of making sure that the contract is properly written and the terms of the contract are honored by both parties. There are many other issues other than price to be considered when negotiating a contract, and you also need to consider other factors that a professional Realtor will discuss with you prior to making the offer to the builder. This is at no cost to you and it is definitely in your best interest to be represented by a professional.

Feel free to contact me at 404-394-8015 if you have additional questions.

Diana McBride, GRI, Associate Broker
RE/MAX Unlimited
1 vote Thank Flag Link Fri Apr 18, 2008
Shakti,

Eric is right. The importance of having a professional help you (for free) is that we can analyze the property for you.

If the homes in the neighborhood are selling for 200K and the list price on the home you like is 250K, then getting 20% off is still not enough. Likelywise in that same neighborhood, if we found a home for $175K, then you shouldn't be too upset if you buy the home for close to that.

Still, it doesn't hurt to ask, unless you have a part time agent that does not know how to present those types of offers.
1 vote Thank Flag Link Fri Apr 11, 2008
Joshua Jarvis, Real Estate Pro in Duluth, GA
MVP'08
Contact
Sure what I was saying is your 20% cut off the top on an over priced listing might be 40% higher that market value would allow. Its important not to focus only on what you want to pay but what the value of the property is in todays market and the market to come. Have to ask are you not workign with a buyers agent because as a buyers agent that is a B I G part of my job for you.. to help you understand fair market value and then determine how to get you what you want within your limits and if this house can be gotten for what you need to get it for ... then its a win - win for bueyr and seller.
1 vote Thank Flag Link Fri Apr 11, 2008
BIG question... what has the last sale of a like home been .. how long has this home been on the market is it a Bank Owned or Seller owned. Is the market increasing and deceasing in value and at what rate and typical questions that I research as we prepare an offer. 20% off on an over priced listing might be 40% to high
1 vote Thank Flag Link Fri Apr 11, 2008
Most builders have a pricing strategy from the beginning of the development. They price lower in the beginning to get the comunity developed. The builder generally have construction loans to cover. Then they go up in price based on the plan. Near the end of a contstruction phase, they may do some discounts. Also some less than desirable lots me be discounted. Builders generally like to keep the prices going up to help their bottom line and to give the previous buyers a feeling that the community is raising in value.

Of couse the current market is an exception. However most builders have already adjusted their prices accordingly. They are hesitant to lower prices much from the list price. However they may be more willing to negotiate on quality of fixtures or extras.
Web Reference: http://www.randyballard.com
0 votes Thank Flag Link Tue Jul 1, 2008
That really depends on how motivated the seller is. For example, we have a 3 bed/2bath on 1+ acres in Alpharetta 30004 zip and with this market we will take $199K not a dime less than 250K when the market comes back. The home is newly renovated with refinished oak and pine floors throughout-2 outbuildings as well
Email me if you are interested cmcclimon@comcast.net or call me at 404-729-9307
0 votes Thank Flag Link Tue Apr 15, 2008
Thanks Eric, sorry looks like your answer got cut off at the end.
"listing might be 40% to high"

can you post it , thanks
0 votes Thank Flag Link Fri Apr 11, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer