I’m Thinking About Making An Offer On House The House In A Short Sale Asking Price 109,900?
January 6, 2010 by
Filed under Carpet Sales
I want to offer less, the home needs some minor repairs, carpet, painting, refrigerator. My father wants me to offer 80k, I want to offer 90k. What would be a correct offer?
Related posts:
- Can I Offer More Than The Sale Price And Ask For It Back At Closing? My wife and found a house that was $200,000...
- Selling My House, Where Do I Begin? I’m disabled, live alone and still dealing with effects...
- Disabled, Selling My House, Where Do I Begin? I’m disabled, live alone and still dealing with effects of...
- In The Uk, What Percentage Below The Asking Price Should I Offer For This Property? The house of my dreams is on the market at...
- How Much Should We Offer On A Home For Sale “as Is” ? It needs of a lot of work. But in a...
Related posts brought to you by Yet Another Related Posts Plugin.
there is no harm in putting a lower bid the worst that can happen its refused then you make a fresh offer keep trying
whatever you save is yours in the end
In most short sales, the lender has already worked with the seller on a price which the lender will approve in an offer. That being the case, you won’t stand a chance with an offer that much below asking. Your idea of an offer is nearly 20% below asking, and your father’s is more than 25% below asking. Unless you can clearly demonstrate to the lender that the house is only worth what you are offering, you won’t even get a counter offer.
Ask your agent to provide written evidence of recent and comparable sales for you. If such evidence supports the offer you want to tender, it should be included with your offer.
I’ll be nice. What most failed to understand is that on a short sale, it’s already being offered for less than is owed. Did you hear me? Do you understand what that means? Do you realize that the while the lender may accept your offer you’ve accomplished two things; #1 you may have caused the owner to pay the difference and #2 you’ve just lowered the property values in a neighborhood you’re buying in. I would rather my new home be worth $109,900, than $90,000 wouldn’t you? Figure it out and get a clue.
Aren’t you working with a real estate agent? They would be able to guide you as far as what the area homes have sold for and where your starting price should be.
If you offer 80 or 90k, I would suspect you won’t hear back from the bank, or your offer will be rejected.
most likely your father is correct. as you get older you get wiser at this stuff.