- How much have similar homes sold for in the last six months?
-What is the asking price of homes in the area right now?
-What is the condition of the home you want to buy compared to similar ones on the market?
-How bad does the seller's really want to sell?
-How long has the property been on the market?
-How much do you qualify for and how much can you afford to pay?
Above are all the questions you can ask your Realtor to gather for you in order for you to come to a conclusion.
By knowing what the value is, a buyer can then determine what he/she is willing to pay. Determine a range, for example $325.000 to $335,000, and obviously you can start your initial offer at $325k, knowing that if you have to negotiate you're not willing to go passed $335k. Just my idea.
If my response was helpful, consider clicking BEST ANSWER!
Senior Loan Officer
STERLING NATIONAL BANK
310 Crossways Park Drive
Woodbury, NY 11797
A buyer's Realtor will question the seller's Realtor, feel him out and try to get a good initial bid to start from that will still be low, but also enough for a counter offer. There are many tricks to the trade in this case, I will not reveal.
Answer: Get a good buyer's Realtor. (Like Me)
Think about how badly you want the property and then offer accordingly.
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783