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Old 10-02-2007, 08:16 PM
 
Location: Riverside, CA
29 posts, read 139,611 times
Reputation: 28

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The 90% number was only a round, understandable number, not necessarily one I would use. I do think that a 95%-97% offer is generally reasonable when you are almost certain to get a counter offer. That leaves a little bit of room for negotiation.

What if the property is bank owned???
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Old 10-03-2007, 05:32 AM
 
3,972 posts, read 12,609,521 times
Reputation: 1470
Larry

I think that there are many factors that play into this decision. For example, if the property is just sitting empty and has been for a while, you are probably dealing with motivated sellers. Banked owned is probably the same.

You can always offer whatever you want, and if the seller refuses to negotiate and you are still interested, you can always come back with another offer.
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Old 10-03-2007, 09:46 AM
 
Location: Riverside, CA
29 posts, read 139,611 times
Reputation: 28
That's pretty much how I feel as well lastminutemom.

How about bidding on more than one house at a time with the intention of going for the best deal? I heard there are checkboxes on offer contracts where you can state that you are doing just that. New to 2007 I think?
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Old 10-03-2007, 12:17 PM
 
Location: Mableton, GA USA (NW Atlanta suburb, 4 miles OTP)
11,334 posts, read 25,985,084 times
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Quote:
Originally Posted by brookdaleresident View Post
Friends of mine just bought in Duluth and offered 90-95% and it was accepted. I think it depends on the seller's situation. There's a lot of vacant homes on the market, and I'm betting the sellers are pretty motivated, especially if they're carrying two mortgages.
Yeah, we took a 10% hit on our townhouse up in Minneapolis 18 months ago ago just to sell it. Paying two mortgages can be painful, even for a few months.
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Old 10-04-2007, 02:35 PM
 
Location: Riverside, CA
29 posts, read 139,611 times
Reputation: 28
So looking for bank owned properties is pretty easy. How can you determine if the owner of a property is paying 2 mortgages? Not so easy...
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Old 10-04-2007, 04:05 PM
 
3,972 posts, read 12,609,521 times
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Well, if it isn't bank owned or an estate sale (the owner died) and the house is empty, that is a pretty big clue that the owner owns two homes or at a minimum, is paying one mortgage payment and one rental payment.
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Old 10-07-2007, 10:39 PM
 
97 posts, read 354,389 times
Reputation: 37
Instead of what to offer, I would recommend focusing on what it is "worth." Pull the comps and get comfortable with them. From there, you can strategize an offer. Some areas in Atlanta have heavy inventory and some do not. I don't know much about Lawrenceville but in a nutshell, the desirable neighborhoods are doing very well right now.
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Old 10-08-2007, 12:55 PM
 
Location: NW Atlanta
1,372 posts, read 5,199,585 times
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Quote:
Originally Posted by LarryLarry View Post
What is the general thought right now on how much to offer on a single family resale home in the Lawrenceville/Duluth/Grayson general area. We are looking in the $275k-$350k range if that helps.

I know there are other factors related to individual houses and certain subdivisions, but I'm wondering how much of a buyer's market it really is...
go to other houses that are similar to the house you are looking at...
if the house you want is better than the others (upgrades, etc) then it is wise to offer asking price
if you have a realtor they should be able to help you with this
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Old 10-08-2007, 12:56 PM
 
Location: NW Atlanta
1,372 posts, read 5,199,585 times
Reputation: 452
Quote:
Originally Posted by LarryLarry View Post
That's pretty much how I feel as well lastminutemom.

How about bidding on more than one house at a time with the intention of going for the best deal? I heard there are checkboxes on offer contracts where you can state that you are doing just that. New to 2007 I think?
this is something i would never recommend doing
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Old 10-11-2007, 12:03 PM
 
Location: 127.0.0.1
62 posts, read 435,244 times
Reputation: 50
Quote:
Originally Posted by Steven2149 View Post
I for one, would ignore an offer that was trying to buy a 300k home for 270k. That is very close to an insulting amount.
Good thing you're not trying to sell right now because you'd definitely have tough luck if you feel that is insulting...and to ignore and offer all together is just ignorant.
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