What is the good offer price?

Asked by Vbspt7, Indianapolis, IN Tue Apr 15, 2014

We saw couple of nice homes in West Carmel area. Lets say they are listed for $340K then what should be our offer. Do we have to go $340K in current market conditions? or Something like $325K is a good starting point to have negotiations?

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Greg Cardoza, Agent, Carmel, IN
Fri Apr 25, 2014
As your buyers agent, my responsibility is to get you the lowest possible purchase price for that home. $325K could be a acceptable starting point for a home listed at $340K, but bear in mind that at this particular time, inventory in this area is low and homes are selling for somewhat near their list price. I maintain that with professional negotiating, I could widen the gap between the purchase and list price for you.

For more insight into what the market is doing, you can visit my Market Insider page on my website to see sold vs. listed pricing, as well as area demographics, school information and market inventory.
If you scroll down to the bottom of the page, you can see all the homes that sold in the area in the last year.
1 vote
Mary Garber, Agent, Indianapolis, IN
Thu Jan 8, 2015
You need to have seen enough homes to have a good feel for the value. How long it has been on the market and how recently it has been reduced have some influence. Every transaction is different. It is a good buyers agent's job to evaluate the individual circumstances, share that with you, and help you choose. There is no right or wrong answer HOWEVER it is never a good idea to make the seller of the home you want your enemy with your first offer. There will be negotiations along the way with possession, inspections, and closing you may want to win later. Mary Garber mgarber@talktotucker.com
0 votes
Mallorie Wil…, Agent, Indianapolis, IN
Sat Aug 23, 2014
You want to speak with your agent and request his/her opinion of value. As many have stated, $325k would be a great starting point; however, with inventory low and demand up, you might risk losing out on a house to a higher priced offer. I would encourage you to trust your REALTOR in how they recommend you approach the negotiations.

Good luck to you and I hope you all goes well!

Mallorie Wilson
Sales Manager
Century 21 Diversified
317-590-3434 direct
0 votes
Terri Vellios, Agent, Campbell, CA
Fri Apr 25, 2014
Ask your agent. That is what they get paid to do.
0 votes
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