Realtors What is a fair offer on this property-E-Answer.Net

I am interested in a house and public records show median price for that neighborhood is $66,700. The house has 720 sq. ft of living space and three other houses in that block sold for $83,000 on 2006 (1698 sq. ft.),$45,320 on 3/16/07 839 sq. ft and $ 72,400 on 4/6/07(1392 sq. ft.). They want 65,000 and my offer will have to be contingent upon the sale of my home which is also on the market. I do have a realtor but her CMAs usually are in a 10-20K range so that is no help. What is a fair offer on this property? Would 60K be reasonable or should I offer full price due to the contingency?

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awesthou... Votes: +0	NO one will take a home for sale contingency. Either wait to sell or lease out. Follow your realtor's advice on the price offer. If you feel she is incompetent, get another. report abuse vote down vote up


marvin m Votes: +0	its a buyer market. theres no way u can lose plus it depends if the house is in a nice neighborhood and the condition ur buyin it in and is it worth it to repair the house for the price of it if its worth it buy it report abuse vote down vote up


Cheryl G Votes: +0	Offer lower than 60K. The seller can counter with another price. In the declining market you've described, you're likely to lose money on any purchase, at least for a while. When the market rebounds, you'll be in a good position if you haven't paid too much for the property initially. Suggestion: $55,000 and see what happens. Be sure to get an appraisal, whether it's a cash offer or not. Make the contract contingent upon the appraisal and a home inspection. If you plan to go for financing, make this a contingency, also. In that manner, you're less likely to pay too much or to buy a problem property. report abuse vote down vote up

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Realtors What is a fair offer on this property

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