How to make an offer on a House. It's a Single Family Home - Detached 2 Car Garage, Off Street Parking

Asked by Ljl, Hudson, MA Wed May 20, 2009

I am very interested in buying a house, the List Price is $239,900
The house is in just about perfect condition - well cared for - even though the bathrooms have old fixtures - it is all functional. It's 1400 sq. ft. / 2 car garage/ 3 bedrooms upstairs, Living Room, Dining Room, kitchen - no dishwasher - small sink area with counter space. Built in 1918,
Great Location, Residential neighborhood.
I am not sure what to offer....I know that 2 other Brokers are looking at the house......I was considering an offer of $218,000. Any advice! Also, Assessed: $254,700 - Approx. Acres: 0.13 (5610 sq. ft.)
Thank you,
Linda
LinJoyce0330@aol.com

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6
Susan Costa, , Westport, MA
Wed May 20, 2009
You cannot go buy what the assessed price is in todays market. If the house is in the condition that you say, I can tell you that such properties go fast. There are quite a few buyers out there toda.

You can make an offer two ways - contact an agent and use them as a buyers agent (they do all the work and it cost you nothing - they are paid from a split on the commission) You will need to get prequalified if you have not done this already. It just takes a phone call.

Or - you can contact the listing agent and make the offer directly to them. Just note - they represent the seller.
0 votes
Territory.c…, Agent, MA,
Wed May 20, 2009
How long has the property been on the market? I would start at $218000 with a quick expiration date. Try and force the seller to commit or counter before potential competitive bids come in.

You can make offers online on our website ... This well help you continue buying the property on your terms but keep your interests protected. Just search for the property on our site and click the "buy it" form:
http://www.territoryre.com/
0 votes
Deb Nicholls, Agent, Concord, MA
Wed May 20, 2009
Linda,

As the others have said, your first step is to get an agent. He/she will then take you through the process, including getting your pre-approval, finding a home inspector and an attorney, and deciding all the other terms on an offer (price is one of many). I'm not sure where you came up with the $218K, but it's possible that the house is already priced low as an estate sale.

It will not cost you anything to have your own agent, so there is really no reason not to use a professional!

Deb
0 votes
Aimee Siers, Agent, Framingham, MA
Wed May 20, 2009
Good Morning Linda -

I assume you have already seen the house. Did you go to an open house? Make an appointment with the listing agent? Even if you saw the house with the listing agent you have the right to work with a Buyer's Agent, who will represent you and your interests.

I work as a Buyer's Agent and would be happy to work with you. Since there are no interior pictures in MLS, I haven't seen the condition and/or how much work it needs. The listing does state that it's an estate sale, so there may be some good room for negotiation.

First and foremost, have you talked to a lender and obtained a pre-approval letter? That is so important, not just to know how much you are pre-approved for, but so that you can go over just how much you are comfortable regarding your monthly payment, including taxes, utlities, etc. This should be done prior to writing an offer.

Once you know how much you are comfortable spending , I can go over the comparable sold with you and a good negotation strategy can be discussed to write an offer that has a good chance of getting accepted.

I hope I can be of help and possibly represent you in your purchase.

Aimee Siers
Century 21 Commonwealth
cell: 508-981-7790
email: aimee.siers@commonmoves.com
0 votes
Scott A. Nel…, , 02155
Wed May 20, 2009
You really should seek out the services of a local real estate agent/broker, especially when you will be going up against other agents. Real estate values are very location specific. Ask your friends, family, colleagues for a real estate agent they've worked with recently and been happy with. See if they have knowledge of the specific area around the property you are interested in & can assist you in valuation and writing up the strongest offer you can based upon your criteria.

Hope that helps,
0 votes
Darren Birks, , Quincy, MA
Wed May 20, 2009
I would start about $215,000 but I would do it quick so you can allow time for a counter before another offer is submited. If you would like I can write up an offer right away. Darren 617-877-3655
Web Reference:  http://www.myagentdarren.com
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