Asked by Anonymous, Miami, FL • Sat Jul 5, 2008
is a good time to buy a home. I am interested in a short sale property currently listed at 210K. My realtor noted that the property was bought two years ago for 290K and the current owners owe 260K on their loan. Doing some more research on the county's property appraiser website, I found that similar homes within the same home owners association sold for an average of 225K in the past year. I am ready to make an offer on this home which is in great condition and has many upgrades. Since the property is already listed at about 93% of the fair market value, how much lower can I go when making my initial offer? I was thinking of making an initial offer at 80% of the fair market value, which would be about 180K. Any advice would be greatly appreciated.
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