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I like the townhouses in the complex next to my company. Normally there are 3-4 units on the market. Lately it has been very few listed. I bungled in my attempt of making an offer on a unit recently. Somehow upsetting the seller or her realtor. Now another unit just came on market and is listed for $475k. It is mostly upgraded inside. 1550 sq ft. Two units in the same complex which are 1430 sq ft and slightly less upgraded were sold for $460k in July.
Timing:
House was listed today. I and my realtor will check it out tomorrow.
I know that I will most likely like it and make an offer.
Do I make an offer on Monday, 2 days after it was listed or should I wait? 4 days, a week?
Price:
I am willing to pay $470k.
Do I offer $470k. Or offer $465k or $460k and negotiate up?
My realtor is a family friend. May be inexperienced. She will give me 1 % back but I found out that she doesn't give me much advice.
Many thanks,
Well, there's your first mistake, grasshopper. Get a realtor that will actually REPRESENT your best interests in probably the largest financial transaction of your life (so far, anyway).
How do you figure you "upset the seller or her realtor" in the other offer. This comment really caught my attention.
Strangers on a forum, unfamiliar with your market, who do not have an agency relationship with you, cannot advise you in this offer. Get a realtor there who can, and will, do their job for you. Now, come back in a few days and let us know how this played out. Be smart.
Don't wait to make an offer. It seems these units go fast. Tell your agent you want to be prepared to make the offer right after you see it. Why wait until Monday? Make the offer for $470 or even full price. The extra $5000-10,000/month in your payment will be insignificant on a monthly basis.
I like the townhouses in the complex next to my company. Normally there are 3-4 units on the market. Lately it has been very few listed. I bungled in my attempt of making an offer on a unit recently. Somehow upsetting the seller or her realtor. Now another unit just came on market and is listed for $475k. It is mostly upgraded inside. 1550 sq ft. Two units in the same complex which are 1430 sq ft and slightly less upgraded were sold for $460k in July.
Timing:
House was listed today. I and my realtor will check it out tomorrow.
I know that I will most likely like it and make an offer.
Do I make an offer on Monday, 2 days after it was listed or should I wait? 4 days, a week?
Price:
I am willing to pay $470k.
Do I offer $470k. Or offer $465k or $460k and negotiate up?
My realtor is a family friend. May be inexperienced. She will give me 1 % back but I found out that she doesn't give me much advice.
Many thanks,
We have a saying....the house you looked at today and are thinking about tonight is the house another buyer looked at yesterday and thought about last night. If it fits what you want and you like it...don't play the game. Make your offer ASAP before another buyer takes it from you.
Hope that 1% is worth working with an agent that apparently doesn't really know what she is doing..... That situation typically ends up costing buyers MORE than if they had just hired an experienced professional who knows how to do his/her job.
I've never paid a buyer for the opportunity to sell them a house....that just seems desperate. Its my job, do you pay your boss for the opportunity to work for them?
OK, if after checking it tomorrow and I still like it I will make a full offer. I like not to have to fix anything. Hope it looks as good as in the pictures.
Only offer what you feel comfortable paying. You can usually go up, but you can almost never go down. If you had a good agent, however, they would advise you on the local market and your particular strategy.
Also you mentioned it's next to where you work. That saves on commute and time. Is that worth anything? To me that's easily $5000 a year in time, gas and maintenance. If you really want the place and you are getting 1% back, I would offer the full price and go for it. Especially since there's an increase in both sq ft and upgrades from the comps you posted. It sounds like it's fairly priced.
I only say this as you mentioned there's only a few listings that come up.
You planning on changing employers any time soon? Wow a lot of people would love to be able to walk to work.
When we purchased our home almost 5 years ago, very few people seemed to be buying anything. We were taking it slow at first. Found a home and made an offer a couple days later. Found out that they were accepting backup offers only. We went to another home and a similar thing happened. The home we are in is two blocks from the first home, built by the same builder, same development. We did not even wait on that one, went back to our Realtor's office and wrote up an offer on the spot. For us this home is the place and we plan on being in our home for many many years to come.
Good luck on your search. Hope this works out for you. If it has everything you want and you can afford it then why think of walking away?
Damn it. I just checked the sex offender registry and one guy with "Possess Or Control Obscene Matter Depicting Minor In Sexual Conduct" description is two doors away. Should I cancel the viewing? I have a 3 year old daughter.
Edit: I cancelled the viewing. This sex offender lives too close to the property. This would give me too much anxiety. Imagine saying hi to this guy every day.
Last edited by jimmybirdie; 08-30-2015 at 03:45 PM..
Damn it. I just checked the sex offender registry and one guy with "Possess Or Control Obscene Matter Depicting Minor In Sexual Conduct" description is two doors away. Should I cancel the viewing? I have a 3 year old daughter.
Edit: I cancelled the viewing. This sex offender lives too close to the property. This would give me too much anxiety. Imagine saying hi to this guy every day.
You were able to verify that this is still current?
Now, you have plenty of time to hire a real agent to help you.
If you like what you see; make an offer you can live with if you win, and sleep with if you don't.
Love this.
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. That situation typically ends up costing buyers MORE than if they had just hired an experienced professional who knows how to do his/her job.
