We are considering buying a bedroom 4 chesterfield home off Wilson Rd. It is a Monsanto owned home (due to an employee relocation). It is being

Asked by Gestalt, Guilford, CT Tue Oct 4, 2011

offered at 399.900 and has been on the market for 239 days. What would you recommend we do in terms of an offer? Thanks, EB

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Dana Tippit, Agent, Chesterfield, MO
Tue Oct 4, 2011
BEST ANSWER
EB,
I'm fairly certain I know the property you are talking about. It has been on the market for over 200 days for a reason. The price does not match the condition.
Anna Brocco is right that you need to review comps with your agent - if you need one, let me know. I am an expert in that area.
However, the comps were used to determine only the LIST price, which obviously isn't the sales value, or price in this situation.
Your offer can be multi-faceted...offering and asking more than just price.
YOU, the buyer, will determine the sales price.
Relocations are all different. I believe Monsanto gives the owner an incentive to get it sold in the first ?so many days. Thereafter, the listing agent has to sell within some? 90 days or loose the listing to another broker - all these options come into play.
You are going to have to consider resale, the backyard is hurting the sale now, have to remember that when you go to sell it. Have to consider what and how much you will need to update and change the condition to your liking and preference.
Regardless, I'd offer some $20K below your top dollar and see their tolerance level. They won't agree to anything lower than $375,000 at this point without making a listing/offering price change...keep that in mind.
Dana Tippit, REMAX 314-651-9900
0 votes
Debbie Dutton, Agent, chesterfield, MO
Fri Nov 7, 2014
It is always best to work a real estate agent who can look at the condition of the home and run comps for you. Your agent will be able to advise you on how to get the best deal. Sometimes a seller is unrealistic and you need to move on. But sometimes, even when a house is over-priced, you can get it for the right price with good negotiations. If you would like help, please let me know, unless you are already working with an agent. If so, I would talk this over with them.
0 votes
I agree.
Flag Tue Nov 25, 2014
Ted Rood, Mortgage Broker Or Lender, Maryland Heights, MO
Tue Dec 10, 2013
Are you working with a buyer's agent? If so, would have them do a CMA to determine what comparable sales are going for. If you want, I can also run several automated models to look at value. Glad to help, I am located in Creve Coeur. Thanks, Ted Rood
0 votes
Jack Buck, J…, , 63005
Fri Sep 27, 2013
I have some great agents
I have done home loans for 26 years
314-324-5066
0 votes
Jack Buck, J…, , 63005
Fri Sep 27, 2013
I HAVE SOME GREAT FULL TIME AGENTS
I HAVE 26 YEARS EXPERIENCE IN HOME LENDING 314-324-5066
0 votes
Dale Weir, Agent, Chesterfield, MO
Tue Oct 4, 2011
Part of the answer is how much do you want THIS property, vs a different property? There are still a few sellers out there who were given a relo package deal when they were hired that says that the company has to pay them at least as much for their home as they bought it for, others where the company gives them X amount of time to find a buyer and get it closed, or they will buy it. With some deals, the seller gets an incentive if they sell by that date, with others, they don't, but they know in advance what the company is going to pay them for the home, so if they can get as much by waiting, as they will get if they sell quickly and get the incentive, they may hold out. So, base your offer on what you and your Realtor have determined is a Fair price for the property and what you are willing to pay (keep in mind that if you have to have both sellers and relo company sign any contract negotiations, it can take quite awhile to get through the negotiation phase, so trying to start out by low balling them to see how low they will go, may be counter-productive - if you are interested in the home, someone else may be also and the longer you spend in negotiations the more chance you have for someone to slip another contract onto the table. Figure out what you think would be a fair price, then go from there

Your agent will be able to guide you through determining your numbers and will be able to research things in the MLS that you can't see
Web Reference:  http://www.yourstlhome.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Oct 4, 2011
In order to determine a fair offer, review comps with your agent, recently sold similar properties in the immediate area; see what the data suggests and go from there...
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