Buying a property in Spring Lakes Bradenton Florida

Asked by Richard, Michigan Wed Jul 2, 2008

If a property is appraised at onlu around a 100,000.00, and asking in the mid 100's , is it practical to think that a bid of something in the low 100's would be more feasible for an offer???

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8
Maryann Lawl…, Agent, Bradenton, FL
Thu Jul 3, 2008
Richard, as a Manatee County real estate professional, I would ask you to look deeper into the Spring Lakes subdivision and what some units have recently sold for. I just closed a unit in the adjoining Wildewood Springs development and was surprised how much prices had come down since my last transaction in there. At first glance, I might wonder if over $100,000 is too much. With an incredible inventory in the local area, our county appriased values are not indicative of our true market values. Please feel free to contact me for more information and local comparable data.
Maryann Lawler
Keller Williams Realty
(941) 586-8257
Web Reference:  http://www.MaryannLawler.com
1 vote
David B. Lev…, , Longboat Key, FL
Sat Jan 31, 2009
Richard
I own in Wildewood springs which is right next to Spring lakes
1st of all get your agent , if you have one if not call me, and have a CMA done which will show you what conds like the one you are interested in has sold for in the last year. If the asking price is lets say 150,000 but the comps show that similiar condos have sold for 120,000 then go in at that price. If the seller dfoes not except this is where your agent comes in and offers proof that according to the comps just do not see this condo selling that high. no matter what even if it is a cash offer make offer contingent on an appraisal which must come in at or above purchase price. this way if the seller agrees on an offer of 120,000 and it apprasies at 115,000 you can now go back to seller and try to get it for less or back out of contract. If you have financing in place the contract is automatically contingent on an appraisal according to the finance clause in contract.
If you need help give a yell
The Leventhal Team
David
Web Reference:  http://wwwifloridahomes.cc
0 votes
Lee Forbes, Agent, Bradenton, FL
Tue Aug 19, 2008
If you have financing then making an offer that you can afford and think is reasonable. You are not offending someone when you make an offer. It's often helpful to check what the seller bought the home for. This will tell you what they stand to lose or gain. This can be found on lots of sites free of charge.
Web Reference:  http://www.GulfsideLand.com
0 votes
Bill Eckler, Agent, Venice, FL
Sun Jul 6, 2008
Richard,

It's best to have all possible information before considering making an offer. Do you know the neighborhood? what is the condition of the home? What are the prices of recently sold homes in the area?

On the surface your numbers could be feasible but upon finding the answers to the above questions.....it may take on a different look.

Good luck,
The "Eckler Team"
0 votes
Karen Wantuck, Agent, Sarasota, FL
Thu Jul 3, 2008
If you really want the home, then it would be important to offer a price that makes sense for current sales/non sales figures all of which can be deduced by your real estate agent. AND I hope you are working with one.

As the buyer, there is no cost to you to work with an agent. And because of questions like these, and all the other contractual issues, it is extremely important that you have representation.

Back to your question: I wrote 4 contracts this month and they all failed for the buyer because the buyers wouldn't listen to me and insisted on offering too little. All of us realtors have taken courses these days to help us determine how to get a home sold, and the most imporant part of the course was PRICING IT TO SELL. We have now priced the home on the money.

But buyers still think offering tens of thousands of $$ less still works. It doesn't. Our sellers are at rock bottom now and the next step is just handing the bank the keys. So, Richard, have YOUR agent do research to see 1) what homes in the area HAVE sold for in the last 3 months 2) what homes didn't sell for and those are the homes that are still for sale after a long period of time 3) what homes have been taken OFF the market in the area (because they were priced too high and didn't sell.

Then you will have a very good indication of what a good price is. AND you still might have some wiggle room......
0 votes
Linda Singer, Agent, Bradenton, FL
Thu Jul 3, 2008
Good Morning Richard: As a real estate professional in Bradenton, I would not recommend any of my clients to use the tax appraisal for value evaluator. Rather, I would do a comparitive market analysis of what has sold in that neighbor. Even using what properties are lsited for is not the best indicator of value. the combinatiion of solds and listeds will give you the most accurate picture. In addition to that, you should be looking at the owner's disclosure statement and the association documents prior to making a bid. This would be in your best interest. If you would like any further information, I can get that for you. Feel free to email or call me: LindaSinger@MichaelSaunders.com; 941-907-9595. Hope this helps you out. P.S. I can also prepare the offer documents for you as well and email those to you,
0 votes
Dallas Texas, Agent, Dallas, TN
Wed Jul 2, 2008
Difficult to state unless the property is comp, and etc. http://www.lynn911.com
0 votes
Iwantanoffer…, , 90404
Wed Jul 2, 2008
If you have financing then making an offer that you can afford is reasonable. You are not offending someone when you make an offer. It's often helpful to check what the seller bought the home for. This will tell you what they stand to lose or gain. This can be found on lots of sites free of charge.

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Web Reference:  http://www.iwantanoffer.com
0 votes
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