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Nothing wrong with that offer at all!! You could probably start a little lower, and, as was previously vociferously suggested, do some homework with regard to recent sales, etc.
How on earth can you tell that is a good offer????
You know nothing about the house, the comps or anything else. For all you know, that house could have sold 1.5 years ago to a flipper who now wants to make a substantial profit for doing very little.....thus what you "suggest" is a good offer may well in fact be an offer well over market value.....
A CLASSIC example of not doing your homework and the buyer potentially is going to get burnt if they dont do it as well......... This is why Realtors should not be allowed on this board.
Last edited by hurrahs80; 07-23-2008 at 05:03 AM..
Apparently you've had some bad experiences with Realtors...
This is definitely a Buyers Market! However, believe it or not, there actually are houses out there that are realistically priced, i.e. priced to sell!
Which is not to say you shouldn't do your homework, of course. Kind of like the old Syms' ad "An informed customer is our best customer"...
And yes, there are buyers out there that do insult Sellers... for instance, offering a seller who is asking $749K (overpriced maybe by $70-$90K) a purchase price of $510K is insulting and resulted in NO counter because the land itself is worth around $500 and the house is definitely not a tear-down...
People:
Here you have a Realtor who readily acknowledges in her hypothetical that they are co-conspirators in listing a house that is over-pricing the market by nearly $100,000!!!!! Like that is chump-change...hey, no biggie, "lets see if we can get a sucker to fork over $50-$80k more than they really should (based on market values) so we can move up to our new Jaguar lease arrrangement"
Doesnt sound too "ethical" to me......... does it Mr. Moser? I guess this is the converse of your example of "taking a nice potential home away from the children of hardworking people" since the potential buyer may not be able to afford the ultimate sale price and taxes..............
So who which party (seller or buyer) is "insulting" who here.......??????
Last edited by hurrahs80; 07-23-2008 at 05:03 AM..
Whom are you calling "co-conspirator"? If a buyer wants to see a house and I show it, and when asked about price, tell them to make an offer, I'm a co-conspirator??
Someone must have really raked you over the coals!!!
Quote:
Originally Posted by hurrahs80
People:
Here you have a Realtor who readily acknowledges in her hypothetical that they are co-conspirators in listing a house that is over-pricing the market by nearly $100,000!!!!! Like that is chump-change...hey, no biggie, "lets see if we can get a sucker to fork over $50-$80k more than they really should (based on market values) so we can move up to our new Jaguar lease arrrangement"
Doesnt sound too "ethical" to me......... does it Mr. Moser? I guess this is the converse of your example of "taking a nice potential home away from the children of hardworking people" since the potential buyer may not be able to afford the ultimate sale price and taxes..............
So who which party (seller or buyer) is "insulting" who here.......??????
We were thinking to start at $440,000. Whether or not the sellers would feel insulted is irrevelant to us. It's about what we can afford. I think that might leave a little wiigle room-no?
Dont worry about insulting the seller!most of the time the price is inflated by the greedy agent or they ask high to weed out undesirables and take a lower price for nice folks.Plus what do you care about insulting the seller? I have 4 houses on my block for sale for a year they would love to get insulted!
If you re-read my post, you will see that I concurred with you regarding doing homework.
With regard to how much the previous owner paid--most houses get sold for MARKET VALUE, not how much profit/loss the previous owner made. Granted, there may be more flexibility in the final price, but the asking price is, or should be, based on MARKET conditions, and ultimately, the buyer(s) determine(s) the selling price.
I've had enough.
Quote:
Originally Posted by hurrahs80
How on earth can you tell that is a good offer????
You know nothing about the house, the comps or anything else. For all you know, that house could have sold 1.5 years ago to a flipper who now wants to make a substantial profit for doing very little.....thus what you "suggest" is a good offer may well in fact be an offer well over market value.....
A CLASSIC example of not doing your homework and the buyer potentially is going to get burnt if they dont do it as well......... This is why Realtors should not be allowed on this board.
This is more like it - Some interesting posts on this thread. It's been pretty boring on this forum lately (Who really cares about Westbury!) - Keep it up.
find a sub-prime victim and kick them when their down! no offence its business!
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