songzhongchi, Home Buyer in 60044

$ 50000 asking price for a property, how much should I make my initial offer?

Asked by songzhongchi, 60044 Thu Nov 14, 2013

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15
Daniel Mirea, Agent, chicago, IL
Fri Nov 15, 2013
there are lots of factors to considers when you make initial offers: price,condition of the property, area, comps etc. You need a good realtor to make sure you don't loose the deal or overpay!
0 votes
Stephanie Sc…, Agent, Chicago, IL
Fri Nov 15, 2013
You should have a Realtor in your corner to help you negotiate things like this but... at the very least your initial offer should be enough to prove to the seller that you are serious about buying!
0 votes
Suzanne Hami…, Agent, Orland Park, IL
Fri Nov 15, 2013
You really need a professional Realtor to help you if you are not sure what the market conditions are in the area. Buying can be tricky. A Realtor can help you with questions you have and things you don't even know that you don't know. Don't cut your own hair, don't do your own taxes, don't operate on yourself, don't represent yourself in court and don't try to buy or sell real estate - that is why we have professionals in life - so everyone doesn't have to know everything.

Look for a good Realtor here who specialzes in that area.
0 votes
Josh Barnett, Agent, Chandler, OK
Fri Nov 15, 2013
50,000 without concession or conditions should get it.
0 votes
Mike Kravitz, Agent, Chicago, IL
Fri Nov 15, 2013
Get a Realtor to help you make the right decision.

http://www.mikekravitzrealtor.com
0 votes
Jorge Vega, Agent, Chicago, IL
Thu Nov 14, 2013
Hello,


There are too many variables for us to give you an answer. If you are ready to make an offer then you have an agent working for you. Have that person do the leg work and give you comparable sales. After you have reviewed the sales adjust the price based on inflation and additional costs, remodeling costs ect. Good luck!
0 votes
Dirk Gould, Agent, Chicago, IL
Thu Nov 14, 2013
Your agent needs to run a Comparative Market Analysis. An answer to your question at this point is just speculation
0 votes
Santiago Ken…, Agent, Chicago, IL
Thu Nov 14, 2013
$38, 000 depends on the location ......
0 votes
Your agent needs to run a Comparative Market Analysis. An answer to your question at this point is just speculation
Flag Thu Nov 14, 2013
Your agent needs to run a Comparative Market Analysis. An answer to your question at this point is just speculation
Flag Thu Nov 14, 2013
Bill J Delig…, Agent, Naperville, IL
Thu Nov 14, 2013
Are you working with a Realtor? You need to find out what the area your are purchasing in is going for. Also, the condition of the property is important as well. Depending on area, condition and other factors, $25k may be too much and $75k may be too little.
0 votes
Manoj Jakhar, Agent, DES PLAINES, IL
Thu Nov 14, 2013
Its totally depend on area, duration of the listing and property condition. I think your agent can guide you better. If you do not have agent then go for full price.
0 votes
Howie Andron, Agent, Chicago, IL
Thu Nov 14, 2013
Please have you agent present you with the most recent comparable sold properties in the area. That will enable you to assess value and to determine what you are willing to pay for the property.
0 votes
Matt Laricy, Agent, Chicago, IL
Thu Nov 14, 2013
60k lol

Its impossible for any agent to give you good info without knowing more about it. Get a good Realtor to help you out.
0 votes
Erika Carter, Agent, Orland Park, IL
Thu Nov 14, 2013
Hi there! Are you working with a Realtor? If so, they can perform a CMA to determine market value for the neighborhood. I hope this helps!
0 votes
Melissa Goss, , Center Moriches, NY
Thu Nov 14, 2013
You make your best offer- that is the only figure we are lawfully allowed to provide.
0 votes
Philip Sencer, Agent, Chicago, IL
Thu Nov 14, 2013
Your agent needs to send you comps within the past 3-6mo to see how it is priced. Maybe 30K is reasonable, maybe 60K is. How long has it been on the market? If 6mo then obviously it is over priced. If 6 days then they might not be motivated to get a low offer even if it is over priced.
0 votes
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