#3152086 - 02/04/13 09:03 PM
Re: Make an offer
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TAFKAP
12 Point
Registered: 11/06/09
Posts: 6996
Loc: Memphis
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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.
_________________________
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
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ROUGH COUNTRY HUNTER
16 Point
Registered: 11/12/10
Posts: 10007
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]
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Hangnail
12 Point
Registered: 11/30/00
Posts: 6024
Loc: Murfreesboro, TN
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Since when do mortgage companies share REO appraisals with potential buyers?
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#3152204 - 02/04/13 10:13 PM
Re: Make an offer
[Re: TAFKAP]
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Carlos Viagra
16 Point
Registered: 11/20/04
Posts: 12934
Loc: Cumberland Plateau
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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]
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TAFKAP
12 Point
Registered: 11/06/09
Posts: 6996
Loc: Memphis
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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]
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Hangnail
12 Point
Registered: 11/30/00
Posts: 6024
Loc: Murfreesboro, TN
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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
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TrailWatcher
8 Point
Registered: 12/07/08
Posts: 1745
Loc: Tn,Knox
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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
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MidTN
6 Point
Registered: 01/07/08
Posts: 675
Loc: Franklin, TN
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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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"Light travels faster than sound. That's why some people appear to be bright until they say something.”
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#3152980 - 02/05/13 03:46 PM
Re: Make an offer
[Re: TAFKAP]
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AlabamaSwamper
12 Point
Registered: 06/03/04
Posts: 5024
Loc: Southern Wayne CO and NW Alaba...
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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. 
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