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Is there a way? I would like to know if I should waste my time with this property or not - listed for 5 months, did not even get an offer yet. Other homes in this town are selling in a week or two if they are priced right, and I've seen quite a few go under contract lately. That makes me think this place is overpriced. Trulia and Zillow state that this house was last sold for $375 over 15 yrs ago, yet, this owner is asking for more than double, and does not seem very willing to negotiate. I wonder if he is plain clueless about today's market, or is he really stuck with a big second, etc. Anyone any thoughts? I like the house a lot, but I don't want to be anybody's fool...
Actually it's none of your business how much is left to pay on the mortgage. It also does not matter how much somebody paid for a property. You either like it enough to make an offer or go on to something else. You obviously think it is overpriced so why bother? I would like to buy a mansion but they are all overpriced or maybe I am just underfunded.
Actually it's none of your business how much is left to pay on the mortgage. It also does not matter how much somebody paid for a property. You either like it enough to make an offer or go on to something else. You obviously think it is overpriced so why bother? I would like to buy a mansion but they are all overpriced or maybe I am just underfunded.
I am not underfunded at all. However, if I have the money that doesn't mean that I will pay a premium for this house, even though I like it a lot. This is a buyers' market. I don't think the prices will go up any time soon, and if anything, they may continue to come down until the unemployment figures get better... I don't want to overpay for this property, that's all... And to a previous point that was made here, if they owe too much on this house and can't come down I will try to find a different one. If that's not the case, I may wait a few weeks and see if they accept my offer after all. I am looking out for myself, as I should, and so is the owner. We'll have to see how it all ends...
How much someone paid for a house is everyone's business. It's public knowledge.
Where I live, all property purchase prices are listed in the county real estate assessment website.
Doesn't matter if you bought it 30 years ago or last year, I can find out the selling price with a click of the mouse on the internet.
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You are correct that it is public information but it in no way has anything to do with how much a house can be sold for.
My father paid 9k for the house I grew up in. Today those houses sell for 300k. Should I tell an original owner I know you only paid 9k so I'll offer you 18K and you doubled your money.
There is absolutely only one thing that determines the cost of homes or anything for that matter. Supply and demand.
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You are correct that it is public information but it in no way has anything to do with how much a house can be sold for.
My father paid 9k for the house I grew up in. Today those houses sell for 300k. Should I tell an original owner I know you only paid 9k so I'll offer you 18K and you doubled your money.
There is absolutely only one thing that determines the cost of homes or anything for that matter. Supply and demand.
It's also impossible to build a house at that price today. Building Materials cost so much more, thats why you can get more house with a resale than you can with a new home.
Knowing how much a person owes on a home only gives you a glimpse into their finances. So although someone has a big mortgage they may have a lot of money tucked elsewhere or vice versa. Don't forget that an appraisal would also be done on any property in which you are buying and obtaining a mortgage. Years ago houses always seemed to appraise out whereas in the current economic climate a house may not appraise.
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