There is a house for sale for 195,000 and i offer 150,000 do you think they will take it has been on the

Asked by Hirne, Marietta, GA Thu Jun 26, 2008

market for 90 days if you want more information go
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12
The Hagley G…, Agent, Pleasanton, CA
Thu Jun 26, 2008
What do the comps suggest the home is worth? I would offer in that price range. A lot of my sellers won't even respondd to a lowball offer. If you can justify the $150k offer with sales comps - go for it!
Web Reference:  http://www.cindihagley.com
1 vote
Matthew Share, , Marietta, GA
Mon Jul 28, 2008
When I work with buyers and they are seriously considering an offer on a property, I do a complete analysis that includes evaluating recently sold comparable properties, active properties, and pendings for the neighborhood. Plus, looking at how long it's been on the market, how many price reductions and how long ago was the last one. Is the property vacant? Did the seller already buy a new home. Estimation of what their combined monthly payments are. Do they have any equity in the home or will they be upside down? if they are upside down, do they have the cash to bring to closing? There are so many questions that need to be looked at and this is where a buyer can really benefit by having a good agent represent them in a transaction.
0 votes
Brian And He…, , Woodstock, GA
Sun Jul 27, 2008
Hirne,

Unless, its a short sale or a bank owned property, I highly doubt the sellers will take $150k for this house in East Worthington. The fact that is has only been on the market for 90 days and the fact that this looks like a "retail sale" (ie not a distressed property) would indicate this house will sell for market value. As much as I'd like $150k to work out for you, I would think gathering more realistic data on what the home is actually worth, would help you formulate a more realistic offer.
If you do want a steal in Marietta, there are plenty of them out there, I suggest only looking at foreclosures, REO's, or short sales. If you need a professional who has experience in handling this types of tricky transactions, by all means contact us. Marietta is our back yard, if you want to know of deals before anyone else, contact us.
The Shroyer Team, http://www.AtlantaHomeSpot.com shroyersells@comcast.net 678.851.5558
0 votes
Voices Member, , Canton, GA
Mon Jul 21, 2008
You never know until you try. It would be best to have a buyer's agent look up the tax records and get an idea of what the sellers owe on their mortgage. That is a good indication of what offer they will accept. But I have even see people accept offers lower than what is owed. So, my suggestion is to get your pre-approval letter from your lender and have them put your asking amount as what you have been approved for and put the offer in. I'd be happy to do it for you. Hope this helped.
0 votes
Steve Cohen, Agent, Orlando, FL
Tue Jul 15, 2008
You never really know what a seller will accept. In the Central Florida (Orlando) market where I practice Real Estate, your offer would not be unusual and it would have a better than average chance of being accepted. I don't know if the market is as strong for buyers where you live, but if it is, give it a shot. Try to work with a local Realtor who knows the market well and can show you recent sales in the area. Good luck.
0 votes
Jon Reiswig, Agent, Seattle, WA
Tue Jul 15, 2008
Is the home in question comparable to other homes that have sold at or near the sellers asking price? If so, your offer may be too low. You'll want to have answers ready for when the seller asks why they should sell at the lower offer price. Determine why the seller is wanting/needing to sell and offer ideas that may help their situation as well as offer a fair market value for the property. Realize that most people are emotionally attached to their homes and may not even respond to a lowball offer.
Web Reference:  http://www.jonareiswig.com
0 votes
Macy Andrews, , Smyrna, GA
Tue Jul 1, 2008
Based on the county records, unless they have paid off more then monthly payments, the offer is too low. They would have to bring money to closing. Depending on the situation, they might be willing to take the deal if they need to move, but 90 days is not that long in this market. I would say 175,000 would be a safer bet
0 votes
John Reinhar…, Agent, Atlanta, GA
Thu Jun 26, 2008
It all depends on your (useable) research to justify the offer price & understanding of the participating parties. How strong you or if your hired an agent negotiation skills are.

John Reinhardt
RE/MAX Greater Atlanta
678.784.4440
0 votes
Don Tepper, Agent, Burke, VA
Thu Jun 26, 2008
Good advice below about checking the comps. Also, to determine the bottom line, NonRealtor's advice is good. The real key is seller motivation.

The only way you'll know whether they'll take (or counter) an offer of $150,000 is to make the offer. Check the comps, check what they paid, factor that into your calculations (as much or as little as you wish). Then make an offer.

Hope that helps.
0 votes
NonRealtor, , 23456
Thu Jun 26, 2008
Try to find out, from county records, what they paid for it. This will give you a better idea. If you can't locate the information, lowball. If it doesn't work out, move on to the next one.
0 votes
Brenda Green…, Agent, Smyrna, GA
Thu Jun 26, 2008
It depends on the sellers motivation. It will also vary if its an actual seller, if a bank holds the property or if its corporate owned property, etc. East Worthington is a great subdv that holds its value pretty well. If you would like the comparables for the rest of the neighborhood and a strong negotiator - Im happy to help. Email me at Brenda@StagedBD.com.
Web Reference:  http://www.StagedBD.com
0 votes
Anne Ortiz, , Marietta, GA
Thu Jun 26, 2008
Only the Seller has the answer! $150,000 is a quite a low offer, but we don't know how strong the motivation is. Let me know if I can help you work a deal.
0 votes
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