Can you tell me the range of price negotiating (5,000, 6,000, etc) in . Locust Pt. Also are buyers asked for closing cost help in addition?

Asked by Freddy, 21230 Wed Nov 4, 2009

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12
Ron Trzcinski, Agent, Aberdeen, SD
Sun Nov 8, 2009
No matter where or what the property is, the Seller can go and is only willing to go so low for a net value and likewise the Buyer can give and is only willing to give so much, with both price and closing concessions considered. What do you actually want? I'll tell you if it is feasible and if so how to accomplish it.
0 votes
Tina Beasley, Agent, Saint Augustine, FL
Wed Nov 4, 2009
If you are not working with an agent, I would be more than happy to help you negotiate a good deal. Just give me a call! Of course, to answer your question, each property is different on how much you can negotiate. It all depends on how much the seller needs to sell and the condition of the property. There are just so many factors that come into play in negotiations. Good Luck!

Tina Beasley
Associate Broker
Real Estate Professionals, Inc.
443-243-1832 Cell
410-918-9741 Office
Web Reference:  http://www.tinabeasley.com
0 votes
June Piper-B…, Agent, Baltimore, MD
Wed Nov 4, 2009
A savvy realtor will be able to help you pull together a great offer for a property. The process is the same whether it is in Locust Point or elsewhere. A realtor will help you by comparing your home of choice to others on the market and others that have sold in that community. They will help you devise a fair market price to offer the seller. In today's market many sellers are prepared to help the buyer with their closing costs. You can ask for up to 6% of the sales price in seller concessions. In addition to that you will need your own money for downpayment and that is determined by the kind of loan you are getting, whether it is CDA, FHA, VA or Conventional. In a real estate transaction, everything is a negotiation, the buyer and seller normally split the transfer taxes and recoration fees, if you are a first time home buyer then the state gives you a credit for the state portion of the transfer taxes and the seller help you may ask for will cover a lot of those costs. If you have any more questions please don't hesitate to give me a call.
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Rick Lake, Agent, Nottingham, MD
Wed Nov 4, 2009
Well it depends on several things that determine the negotiations not only in Locust Point , but any area in the market such as days on the market , condition , area , and the sellers reason for selling.Typically sellers are helping with closing cost in all areas even as much as up to 6%.Hope that helps you out.
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John Dewberry, , Baltimore County, MD
Wed Nov 4, 2009
Hello Freddy,

We are in a Buyers market and you need an agressive team working with you. The average property is selling for 85 to 90% of the asking price but everyone is not in the same situation, so don't put yourself in the same situation as other buyers. Most buyers that truely want to sell their home will give you what you ask for as long as it meets their current need. 95% of the time buyers will give closing help because they want to sell their home. Don't let anyone put you in their box, you may have to be a agressive when buying your new home.
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Demetria Sco…, Agent, Baltimore, MD
Wed Nov 4, 2009
Hi Freddy,

Based upon the 2nd quarter numbers for the Locust Point area, sellers on the whole in the area are averaging about 90% of asking price and the average days on market for a home in that area is a little over 4 months. I am sure that some of these sales included seller closing assistance. This information is based on the 100 or sales that took place in and around Locust point during that 3-month period.

The ultimate answer to your question will depend on the particular home that you are looking at and the circumstances of the Seller. In the current market, many Sellers have a pricing thresehold that they must meet in order to sell. This threshold may or may not be feasible given the recent sales in the area.

Good luck searching!
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Christian Du…, , Baltimore, MD
Wed Nov 4, 2009
All buyers are asking for closing cost help in your area. Who else would move to the city other than first time homebuyers?
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Dottie & John…, , 21244
Wed Nov 4, 2009
Most buyers hire a REALTOR to represent them. The REALTOR will pull comparable properties that have recently sold in the area to determine a fair market value range. Negotiations are determined from this range and the condition of the property. If the buyer does not have the money to pay all the closing costs, they can ask for assistance from the seller. If it is an FHA loan the buyer must contribute 3.5% of their own money. If you have any other questions, just contact me.
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Kate Barnhart, Agent, Baltimore, MD
Wed Nov 4, 2009
If you need seller's assistance in closing-- ASK for it. You don't get it if you don't ask for it.
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Christian Du…, , Baltimore, MD
Wed Nov 4, 2009
5-6% less is the normal in this market, provided it was priced right from the start.
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Scott Stulich, Agent, Dundalk, MD
Wed Nov 4, 2009
If you give me the particulars on the home your looking at, I can pull the comps and be more versed in telling you.
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Kate Barnhart, Agent, Baltimore, MD
Wed Nov 4, 2009
What do you mean? How much lower you can offer?
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