[alex800]

I would like to make an offer on the house but not sure how to come up with a fait offer. I do not want to offend the seller. Should I base my offer on certain percentage from the asking price or is there a better way?

TIA

[House4Sale]

That sounds like a start. IMHO, you will not offend the seller. I would think if you did not make an offer, that would hurt both of you more.

Best wishes!

[sunrico90]

Originally Posted by alex800

I would like to make an offer on the house but not sure how to come up with a fait offer. I do not want to offend the seller. Should I base my offer on certain percentage from the asking price or is there a better way?

TIA

I will check the county appraiser web-site and see all the sales for the past 6 months and look at the trend. This gives you an idea how the houses sold in the community. The seller will not be offended with your offer, he might be in a position that must sell and might be good for you. Do your research, was the house inspected, did you check for sex offenders, how much money to bring it back to your desires, did you contacted the Police department and ask for a crime report, these are some of the factors that I will use to negotiate. Remember, this is a business issue and emotions are not counted for the buyer. You will have a 15 or 30 year mortgage based in your negotiations, so do your homework....

[alex800]

Great, thanks for the prompt responses so far. I was thinking to offer like 20 to 25% off the asking price.

[MyHomeIsInOcala]

alex800,

What do YOU personally feel is fair?

I offered far less than 25% bellow "asking" price and requested $6K for closing and all allowable pre-paids. I also included a letter to the seller stating that this home was NOT a flip or investor home , but form my family.... Now, this is a move-in-ready home and I offered basically less than $100K for it in a GREAT school district in Central FL.

As a RE sales agent myself for many years, I know that a hand written letter to the seller is a PLUS! We loved the home and neighborhood, knew when and for how much the owner paid, plus, in a crappy market for sellers it is a great time for qualified buyers!!!

With a GOOD and I mean GOOD agent (one with moxy), you make any offer you feel is fit! ALL the seller can do is say NO, not to mention there are many Many more homes to choose from!

You can also find a home in an area you love that is priced low... even if it needs work or an addition of living space or garage space for that matter, you can take out an FHA 203K loan... you can possibly waive payments for up to 6 months while work is in progress!!!! your agent should have walked you through options by this point!

Again, IF YOU love the home, make an offer!!!!

Good Luck!!!!!

[hiknapster]

That is very kind of you, but all is fair in love and war and business.

Pay what you think it is worth, not a penny more.