Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The leak may lead to other hidden damage and roof issues, and the deck does not sound cheap to repair. As mentioned, consider repair costs in your offer. $355K may not be that far off market considering the issues you mentioned.
Look at the comps.
Adjust for any needed repairs.
Offer accordingly.
List price and your percentage of offer/list price is not relevant.
More and more, foreclosures are being low-priced to bring multiple offers.
Let the facts of market pricing drive your decisions, not list pricing.
Good stuff, as usual, Mike. May I add that one also needs to grasp the pulse of the local market, declining, flatlining or appreciating. The most recent trades ( closed sales) of comparable properties generally determine the current market value.
That this agent is out of area means he will not know the comps first hand and will need to rely on the local mls and call the listing agent if one of the comps appears whacked. Knowing why a property sold for what it did, when it did, is an advantage.
Good stuff, as usual, Mike. May I add that one also needs to grasp the pulse of the local market, declining, flatlining or appreciating. The most recent trades ( closed sales) of comparable properties generally determine the current market value.
That this agent is out of area means he will not know the comps first hand and will need to rely on the local mls and call the listing agent if one of the comps appears whacked. Knowing why a property sold for what it did, when it did, is an advantage.
Exactly why I said her realtor is handicapping her. But she's been with him a while so she feels loyalty to stay - which I can appreciate. I just think HE should offer to get her someone else who knows that area really well.
The leak may lead to other hidden damage and roof issues, and the deck does not sound cheap to repair. As mentioned, consider repair costs in your offer. $355K may not be that far off market considering the issues you mentioned.
This is true. The deck probably needs to be ripped out, I don't think it's worth restoring it. The whole thing looked rotted. Unless there is a way to restore it, that I don't know of.
The listing agent/addendum asks for 10K cashier's check for EMD, is this typical? Do people give that, thoughts on this?
Around here the banks want at least 1%, and 10% if paying all cash. However, if you are in a multiple offer situation you may want to give what they want. Your agent should also give you guidance on what is expected.
Look at the comps.
Adjust for any needed repairs.
Offer accordingly.
List price and your percentage of offer/list price is not relevant.
More and more, foreclosures are being low-priced to bring multiple offers.
Let the facts of market pricing drive your decisions, not list pricing.
Yippee! Thanks so much for your sound advice. This won us the property!!!! We just found out today!!!
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,302,067 times
Reputation: 6471
Nice MJ and congrats sheenie!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
