Posted on: 22nd Jan, 2013 04:41 pm
Guys, I am set to make an offer for a condo with asking price of
$111,800. It is on the market since July 2012. The seller agent's husband which happens to show us the place ( also a real estate agent ) mentioned that the owner is very motivated.
I decided to look for another real estate agent that doesn't have affiliation with the sellers agent. So I found one and now I am ready to make an offer on the condo.
I still have 4 months left in my rental lease , so I told my agent that I am looking at closing date around 1st week of April. We could pay 2 months left of the lease worse comes to worst.
My agent told me that the $11,800 price is good. I told her I am not paying that amount of money since there was a comparable Condo in the same area ( a block away) that has updated kitchen with stainless steel refrigrator, new carpeting, new solid doors in the masters bedroom and listed at $109,800 and sold a week ago for $107,900.
So I told my agent I will offer $100,000
I really want to offer $98,000 since it has been listed for 6 months now. But she talk me in to $100,000. Her reasoning was it will be counter offer right away if I ask for 98k. I told her I just want to make sure the seller and I can meet in between.... ($105,000). The most.....
Am I doing the right move since my closing request are 2 months away? My agent advised me to put a strong offer since closing is that far...
What do you guys think? Pls. advise...
Thanks!
$111,800. It is on the market since July 2012. The seller agent's husband which happens to show us the place ( also a real estate agent ) mentioned that the owner is very motivated.
I decided to look for another real estate agent that doesn't have affiliation with the sellers agent. So I found one and now I am ready to make an offer on the condo.
I still have 4 months left in my rental lease , so I told my agent that I am looking at closing date around 1st week of April. We could pay 2 months left of the lease worse comes to worst.
My agent told me that the $11,800 price is good. I told her I am not paying that amount of money since there was a comparable Condo in the same area ( a block away) that has updated kitchen with stainless steel refrigrator, new carpeting, new solid doors in the masters bedroom and listed at $109,800 and sold a week ago for $107,900.
So I told my agent I will offer $100,000
I really want to offer $98,000 since it has been listed for 6 months now. But she talk me in to $100,000. Her reasoning was it will be counter offer right away if I ask for 98k. I told her I just want to make sure the seller and I can meet in between.... ($105,000). The most.....
Am I doing the right move since my closing request are 2 months away? My agent advised me to put a strong offer since closing is that far...
What do you guys think? Pls. advise...
Thanks!
Hi Awgd,
As far as I can understand, your move is quite good. You have 2 months time in hand in order to close the deal. In case your negotiation does not work out and you don't get the offer that you want, then you may go for some other property.
Thanks
As far as I can understand, your move is quite good. You have 2 months time in hand in order to close the deal. In case your negotiation does not work out and you don't get the offer that you want, then you may go for some other property.
Thanks
Thanks for your input.
You're welcome, Awgd! :)
Update: Asking price $111,800
I offered $101,800
Got a counter offer for $106,000
I counter offered at $104,000 plus $500 closing cost.
Seller accepted!
I am now in the process of owning a house!
I offered $101,800
Got a counter offer for $106,000
I counter offered at $104,000 plus $500 closing cost.
Seller accepted!
I am now in the process of owning a house!
Wow!! :) That's great to note!! Congratulations!! :) Wish you all the best...!!