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Do you think it's possible a seller would take a bid of 100k less than listed? My husband and I only qualify for like 125K, but the house is 220k. It's been on the market for a few months now and the owner is a widower who has moved in with her children so the house is empty. Do you think there is a chance that in these economic times they might take an offer so low? I've never bought a house before so I don't know if I am allowed to even offer such a low bid.
You can offer whatever you want but whether or not your offer will be accepted is a whole 'nother matter. That's about 50% of the asking price so I wouldn't hold your breath - but it's worth a try as one never knows!
In that price range I'd say you have a 1% chance of your offering being accepted. I mean think about it...why in the world would they come down 50% right now. Wouldn't it be smarter to drop it by 10% to see if they get a better offer?
You can write it up and I would expect that your offer will be ignored. Don't be surprised if the seller doesn't respond.
If you can only "afford" $125k, then what makes you think you can "afford" the taxes on a house with a value $100k more? If doesn't matter what you buy it for, but the county/city/school/every taxing entity is going to charge you on the actual value of the house.
I see a foreclosure in your future for not affording the taxes...
How do I find out what the market value of the house actually is?
The house has been on the market for 142 days
Go to Zillow.com and look up the address. Then also look up houses just like it on that street and the surrouding area. That should give you an idea of value.
If you really like it, I'd suggest you bookmark it (on Redfin, Zillow or Realtor) and see where it goes in the next few months. It may come down some but probably not as low as $125k. But you never know. I have seen it happen.
If you can only "afford" $125k, then what makes you think you can "afford" the taxes on a house with a value $100k more? If doesn't matter what you buy it for, but the county/city/school/every taxing entity is going to charge you on the actual value of the house.
I see a foreclosure in your future for not affording the taxes...
How do I find out what the market value of the house actually is?
The house has been on the market for 142 days
So I take you aren't using a realtor to help you buy your house? Why not?
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