In My Neighborhood in 29036>Question Details

Hapheal, Other/Just Looking in Chapin, SC

Ready to give offer on a new construction at columbia SC area, Is 10% lower than listing price reasonable and fair?

Asked by Hapheal, Chapin, SC Wed Feb 10, 2010

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2
Hapheal,
New construction is different than buying a previously owned home as far as pricing. Sometimes builders are willing to take less, but generally only if it has been on the market for longer than they want. However, many builders today are paying closing costs, which can save you thousands of dollars. The price you pay for a home is not necessarily the most important consideration. If a builder will pay your closing costs, you will not have so much cash to come out of your pocket at closing. I would advise that you not write an offer until you have considered these options, because once your offer is accepted, you cannot change it. I would be happy to help you make these choices where they will come out in your best interest.. Another option is to buy a home in the same neighborhood that is only a year or so older. Many of this type of home will sell for less than the owner paid for it. Please feel free to call me or e-mail me if I can help.
Julie Smith
RE/MAX Real Estate Services
Columbia, SC
803-454-1613
jsmithrealtor@gmail.com
0 votes Thank Flag Link Sat Mar 13, 2010
Unfortanately you can not use a set percentage to know if an offer is good, bad or fair. You need to have your buyer agent complete a broker price opinion on the property you want to purchase. This will tell you what similar homes have sold for and what similar units are selling for. With this information you can guage what it's value is in todays market and assist you with making a reasonable offer. See you dont know if teh builders asking price is market value, above market value or already below market value. When buying new construction builders are more happy to include upgrads and extras for free than lower their prices. good luck with your purchase.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Feb 10, 2010
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