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Asked by Jcl, Leesburg, VA Sun Mar 9, 2008

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3
Glenda Cherry, Agent, Herndon, VA
Sun Mar 9, 2008
Not to be self-serving, but it would honestly be better to have your real estate agent prepare a report showing you the comparable sales so you know if the asking price is reasonable to start with. Some sellers will price their house assuming that potential buyers will come in with an offer well under the asking price. Other sellers (particularly those whose homes have been on the market for a while) will price their house at the absolute minimum they can afford to take. Unless you know the sellers' motivation and the actual market value of the house, you can't really know how much to offer. In fact, the sellers' motivation is probably the most crucial piece of information you can have when deciding how much to offer. A good agent can probably find out and assist you in coming up with an offer that works for both the buyers and sellers. However, in the interests of keeping the peace, you might just want to go along with your husband for now and let him learn his lesson the hard way :-)
1 vote
Lucy Korzeli…, Agent, Wall, NJ
Sun Mar 9, 2008
Dear Jel,
It sounds like you're both beating your heads against the wall. In the long run you will find yourself getting more and more frustrated in a home buying process. The best advice is to get comparables of homes that are under contract and sold that are 6 months or less in the area you are looking then base your offer in that price range depending on the condition and location of the property. You will waste your time, the sellers time and if you have an agent who is helping you; you will waste their time as well. By making low ball offers, 99% of the time it will work against you. Best of Luck, I hope you can find a home.
1 vote
Jcl, Home Buyer, Leesburg, VA
Sun Mar 9, 2008
Thanks for the advice -- you hit the right nails on the head. We discovered the price is fair based on the sellers' reason (it is an estate) and the comps in the area are about $10k+ higher. We'll see what happens! Thanks!
0 votes
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