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#3152086 - 02/04/13 09:03 PM Re: Make an offer [Re: leader]
TAFKAP
14 Point


Registered: 11/06/09
Posts: 9645
Loc: Memphis

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 Originally Posted By: leader
Hangnail gave the best advice, Hire an agent if your not used to doing this, there is ALOT more to it( or can be) than meets the eye.
Whatever the commission is ( 3-6%) will seem like ALOT,BUT that can be saved in them seeing a roof may need replaced or other things you may not see.
As a rule of thumb, even in in the Knoxville market now, if the house is priced in line most agents will not advise an offer less than 10% no more than 15% if you really like the house. Saying all that, there are ALOT of intangibles to consider and without knowing location, area, market it is hard to give a pinpoint answer.
GOOD LUCK!!!!


HIRE AN AGENT!

It will not cost you a dime. Technically, you don't owe the agent anything, but you'll pay a bit more in the price of the home, so long as they're willing to co-op with your agent. It's definitely worth it, especially from the buyers' end.
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Everything important in life was learned from Mary Jo Kopechne.

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#3152138 - 02/04/13 09:31 PM Re: Make an offer [Re: leader]
ROUGH COUNTRY HUNTER
16 Point


Registered: 11/12/10
Posts: 12540
Loc: FRANKLIN COUNTY

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what is the appraisal
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#3152167 - 02/04/13 09:50 PM Re: Make an offer [Re: ROUGH COUNTRY HUNTER]
Hangnail
12 Point


Registered: 11/30/00
Posts: 7394
Loc: Murfreesboro, TN

content Online
Since when do mortgage companies share REO appraisals with potential buyers?
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#3152195 - 02/04/13 10:07 PM Re: Make an offer [Re: Hangnail]
TAFKAP
14 Point


Registered: 11/06/09
Posts: 9645
Loc: Memphis

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 Originally Posted By: Hangnail
Since when do mortgage companies share REO appraisals with potential buyers?


Just like when car dealerships offer you their "invoice" price \:D

HomePath houses are gummint owned foreclosures. They're ready to just unload them. Unfortunately, my previous advice about getting repair concessions just aren't there. Lowball the crap out of the house, and plan on spending some money bringing it up to livable condition. We looked at a number of those HomePath listings in Germantown, and they're listed about half what they would be in good condition. The ones we saw were absolute dumps that required $50K-$100K in repairs. This one looks somewhat promising, though. New-ish countertops, modern looking dishwasher, updated bathroom tile. It looks like it has some potential. But it makes you wonder why there's not a stove People don't tend to pack those up and move with them.
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Everything important in life was learned from Mary Jo Kopechne.

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#3152204 - 02/04/13 10:13 PM Re: Make an offer [Re: TAFKAP]
Carlos Viagra
16 Point


Registered: 11/20/04
Posts: 13999
Loc: Cumberland Plateau

content Online
Just depends, the last 2 houses I bought had the stove and fridge removed...
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Do not be slothful- for yesterday and tomorrow are thieves of today.

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#3152214 - 02/04/13 10:19 PM Re: Make an offer [Re: Carlos Viagra]
TAFKAP
14 Point


Registered: 11/06/09
Posts: 9645
Loc: Memphis

Offline
And maybe it's just a bad picture, but that vinyl siding looks pretty moldy.
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Everything important in life was learned from Mary Jo Kopechne.

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#3152237 - 02/04/13 10:37 PM Re: Make an offer [Re: TAFKAP]
Hangnail
12 Point


Registered: 11/30/00
Posts: 7394
Loc: Murfreesboro, TN

content Online
If moldy VS is the worst thing wrong with it, I'd buy it if I was interested. Missing appliances isn't new at all, but neither are nonworking ones. Buying foreclosed properties is kinda like marrying a mail order bride, not that there's anything wrong with that.
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#3152382 - 02/05/13 06:28 AM Re: Make an offer [Re: leader]
TrailWatcher
8 Point


Registered: 12/07/08
Posts: 1867
Loc: Tn,Knox

Offline
Show interest make a offer...BUT Always Start Low and work your way up if needed!!!!
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#3152392 - 02/05/13 06:35 AM Re: Make an offer [Re: leader]
MidTN
6 Point


Registered: 01/07/08
Posts: 955
Loc: Franklin, TN

Offline
Go to Zillow.com . This site can give you a general idea of home vales in the area based on recent home sales. Then as TAFKAP said determine the amount of work that needs to be done on the house then decide on an offer price.

Hire you own agent. Do not use the listing agent their contract is with the seller.


Edited by MidTN (02/05/13 06:37 AM)
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Homer Simpson

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#3152980 - 02/05/13 03:46 PM Re: Make an offer [Re: TAFKAP]
AlabamaSwamper
12 Point


Registered: 06/03/04
Posts: 5113
Loc: Southern Wayne CO and NW Alaba...

content Online
asking $112k?

I'd offer $90k

What they gonna do? Counter?

I'm a low baller on houses and cars. Never failed me, not once. Either they'll get where I want them or they won't. If they do, I win, if they don't, they can keep it. \:D
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