U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Washington > Seattle area
 [Register]
Seattle area Seattle and King County Suburbs
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 01-09-2011, 10:30 AM
 
3,045 posts, read 2,966,214 times
Reputation: 1306

Advertisements

I've seen a lot of condos posted online and the prices I hear from people seem a lot lower than what is advertised. Are what gets posted on realty sites prices that are much higher than what things sell for? I'm possibly interested in a condo, but don't want to pay more than what a house costs.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 01-09-2011, 11:57 AM
 
9,638 posts, read 25,453,096 times
Reputation: 5341
When you buy a condo or a house, the listed price is the price that the seller is hoping to get. Right now, there are a lot of condos on the market and they seem to have built too many of them. So...
The procedure generally goes something like:
You see a condo advertised for 250,000 dollars. You find a real estate agent to show you the place, and have him or her do some research to find out what similar places have sold for recently. You see the place and love it, and decide you want to make an offer.If you make a full price offer it increases your chance of getting the place, but most places sell for less than asking price. You discuss it with your agent and decide to offer 230,000. The seller rejects your offer, but counters with 235, and you have a deal. You get an inspection done a few days later and find out that the dishwasher doesn't work. You ask the seller to replace the dishwasher. He refuses, but offers to lower the price by 1000 dollars. You accept his proposal, and move into your happy home.
There are many varieties of this, with some places going for less and some for closer to list price.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-10-2011, 04:40 PM
 
Location: USA
163 posts, read 392,974 times
Reputation: 97
its called price negotiating
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-11-2011, 10:48 PM
 
616 posts, read 1,087,883 times
Reputation: 710
There is the association dues to watch out for.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-13-2011, 01:54 PM
 
Location: Lowlands
271 posts, read 1,165,422 times
Reputation: 168
and watch out for the 'you have to help pay for a new roof, because we didn't budget properly, your share is $20k, we put a lien on your condo, you have 30 days to pay'

Fun times.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-13-2011, 07:46 PM
 
1,490 posts, read 3,382,913 times
Reputation: 704
Note that for short sales and bank-owned properties, it can take a lot longer to make a deal and even if you offer full price, the bank is under no obligation to sell to you. Distressed properties are often trashed/gutted or at best, neglected, so caveat emptor.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 01-13-2011, 07:55 PM
 
9,638 posts, read 25,453,096 times
Reputation: 5341
Quote:
Originally Posted by AlohaHuey View Post
Note that for short sales and bank-owned properties, it can take a lot longer to make a deal and even if you offer full price, the bank is under no obligation to sell to you. Distressed properties are often trashed/gutted or at best, neglected, so caveat emptor.
Bank owned is different than short sales, and much faster. But you're completely right about short sales. They can take forever.
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Washington > Seattle area
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top