How low to go?

[overtaxedunderpaided]

Originally Posted by joeymarine

I don't think 185K is a slap in tha face...in fact I think that's a great place to start your negotiations. You'll know from their reacton/counteroffer whether they will be willing to negotiate with you or not.

Question though, do you have to sell your current home in order to buy this one, or do you need to sell your in order to make the deal happen? If so, you may want to get your home on the market prior to placing a "home sale contingent" offer because the seller may not take you seriously and in this market it can take a while to sell.

Good luck though and I hope all works out!

~Joey

Well that was fast!............saw only 3 houses today......last minute scheduling and all that............turns out the one that got me revved up is my favourite, probably due more to the price than anything else. The real estate agent is either being secretive or the privacy laws in Canada are a little different?!......anyway found out the place sold for 183K 3 years ago..........still think 185K isnt a slap in the face,lol?.........a grand total of 2K profit in 3 years??
I have no intention of selling the home i'm currently in...........1/2 owner with my ex and am giving him the entire house when i leave.............before you pat me on the back..........this is for my childrens sake, not his or mine. The other property is rented out to excellent tenants who have never given me any troubles............and therefore their rent has never gone up. They have an agreement til June 08 and if the market is better than, i may consider selling, in the meantime my safety net is in place.
And thank you very much, I do appreciate the great advice given by all!

[SaraSatin]

A gain of $2k is better than some are doing who bought a few years ago. We were excited to get our house sold for $4k LESS than what we paid, because it sold!

[Marty Van Diest]

If you are purchasing strictly as an investment, your offer should be so low that you are embarrased to present it. If you are emotionally involved, it's a different story.

[overtaxedunderpaided]

Originally Posted by Marty Van Diest

If you are purchasing strictly as an investment, your offer should be so low that you are embarrased to present it. If you are emotionally involved, it's a different story.

Thank you all for your advice and stories. I particularily like this quote as it speaks to me...........humourous and quite true. No i'm not concerned how the sellers "feel", although i have 2 properties currently i was basically babysat through the entire process. Learning slowly and starting to get a clue,lol. The desired property is for investment..........although having some second thoughts as the backyard is extremely small.............this doesnt bother me as im not a big time gardener nor do i wish to spend hours maintaining a yard................im thinking in terms of resale value. I got the dough and the time, so i wont be rushed or pressured. Also considering saving more and buying up.........but unsure how long the market will remain buyer friendly?