Not sure what to offer for a 2 bedroom, 2 bath cape cod on 0.9 acres in Denville NJ

Asked by Njg08, Pine Brook, NJ Thu Apr 30, 2009

Home needs new kitchen, electrical upgrade, upgrades to both baths, and possibly septic to sewer conversion. The house was built in 1950. Kitchen looks original. Roof/windows/doors will aslo need replacing at some point. What's fair when tabulating offer? Take off $ for all reno costs? Thanks for the advice!! Nancy

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Sharon Wager, , Syracuse, NY
Fri May 1, 2009
It sounds like you need a good buyer's agent who can guide you. If you ask, he or she can put together a market analysis showing what a good price range would be. Most of the time, your buyer's agent fee will be paid by the seller. If the seller isn't outright offering to do so, you can always ask if he will, or you can try to negotiate it with the contract.

All houses will need new kitchens, roofs, windows and doors at some point in time. Whatever you offer, you should understand that the price you offer should be based on what the property is worth now - not what it will cost to renovate it. Not all renovations or repairs are immediately recouped in the price.
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