We are considering purchasing a home in Owasso in Fairways of Bailey Ranch IV. It seems overpriced at $279,000. Any advice on negotiating?

Asked by Thehaggus, Owasso, OK Fri Jul 13, 2012

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kelleybsc, Home Owner, Owasso, OK
Tue May 21, 2013
Try asking your agent for a comparisons of the market in the area you have been looking at. They should be able to provide you with like houses that are currently on the market, those that have sold and what the difference was between listed price and sold price. That way you can see what is actually selling in your potential neighborhood. Good luck.

We just closed on our house May 2, Love it out here. Hope it was helpful.
0 votes
Crystal Cord…, Agent, Tulsa, OK
Fri Jul 13, 2012
Negotiating is critical to having your offer get accepted. There are many things to take into consideration. For starters if you send a preapproval letter from a lender with the offer it lets the sellers know you are a qualified, serious buyer. The initial offer is key to where your final contract price will end up. If you lowball them too much you could anger the sellers and they will not want to work with you. If your price is too high to start with you won't have much room to negotiate. Know where you want to end up before submitting the offer. That will help you determine where to start. It is also important to know what to ask for. Do you want them to pay some of your closing costs, leave the refrigerator or pay for a one year home warranty? How much of a repair cap are you asking for? All these things affect the seller's bottom line but provide different areas to negotiate on. It's not just about the purchase price. I am more than happy to answer any further questions you may have about the home buying process. Feel free to call, text or e-mail me any time. I want to be your go-to real estate professional!

Crystal Cordova
918-859-1976
McGraw Realtors
Serenity Home Team
0 votes
Steven Eddin…, Agent, Claremore, OK
Fri Jul 13, 2012
You've received good advice so far. An experienced Realtor provides you the best negotiating information. Another consideration is if your offer is accepted, then you'll be paying for the official appraisal. If the home doesn't appraise - then - what are you going to do? For a complete picture, please call me! I'm the Century 21 Owasso specialist!

Thank you,
Steven Eddington
CENTURY 21 Group One
http://www.TheRingingRealtor.com
918-636-4608 call or text anytime!
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Michael Huff…, , Owasso, OK
Fri Jul 13, 2012
Negotiating the price of a home is a double edged sword... If you pay to much, you're over paying, but that could create a positive trend for the neighborhood. If you pay to little, it can result in a negative trend for the neighborhood. The goal should be to purchase the home for it's market value. To determine it's value, you should employ the services of an experienced realtor or appraiser. These professionals will be able to help you determine the value of the home in comparison to other homes that have sold in the area and identify the current trends for the market.

Contact me for some professionals you might select... Michael Huffman - 918-949-8115
0 votes
Karla Sparks, , Owasso, OK
Fri Jul 13, 2012
Contact me at 918-344-7653. I can provide you a report (and other information) so you can see what comparable properties have sold for in the last 6 months.
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Jennifer Col…, Agent, Sand Springs, OK
Fri Jul 13, 2012
Negotiating is always a trick task depending on what is important to both sides. I would love to speak to you further about this matter. All Realtors are here to help thru the home buying process. Please feel free to call me any time with any question about this or any other property you will be interested in. Jennifer Collins Coldwell Banker Select. 918-645-3795
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