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Old 10-28-2008, 12:39 PM
 
53 posts, read 206,625 times
Reputation: 28

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We found a bank owned home for sale for $195,000, Do you think offering $160,000 might fly since we are in a declining market.

We also found one owned by Fannie Mae that we would offer about $50,000 below asking. Is Fannie Mae a long shot?
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Old 10-28-2008, 01:13 PM
 
22,768 posts, read 30,724,200 times
Reputation: 14745
Georgia is terribly volatile right now. There's been a cease fire w/ the Russians, but you never really know what can happen. I'd keep my powder dry if I were you.
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Old 10-28-2008, 01:30 PM
 
53 posts, read 206,625 times
Reputation: 28
Georgia in the US....not Russia
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Old 10-28-2008, 01:39 PM
 
Location: in the good ol' South
865 posts, read 2,431,363 times
Reputation: 880
Most houses are priced right, and not priced over what the market will bear - that is if the owner is seriously trying to sell and their real estate agent is doing a good job. The only way to know if that house you're interested is priced right or not is to check the comps, which your real estate agent can do for you. If the house is priced right, you may be able to bid less, but most sales are closing at about 95% of asking price. Again, your real estate agent may have the figures to show you how close to asking price homes in that area are selling for. Of course, you could always bid what you want and see what happens, but you run the risk of losing that deal and having the sellers not want to negotiate or deal with you again.
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Old 10-29-2008, 10:01 PM
 
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,589,894 times
Reputation: 677
Where at in GA? Will you send me the MLS#? I might can help.
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Old 10-29-2008, 11:34 PM
 
Location: Sacramento
2,568 posts, read 6,749,433 times
Reputation: 1934
Buy my house
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