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  #1  
Old 11-22-2006, 01:07 AM
orlando
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Default need to buy a house

I need to buy a house now, and donít want to get ripped off. Iíve been putting in offers at 20% below asking, but not getting any acceptances yet. Does anyone have any other suggestions?
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  #2  
Old 11-22-2006, 01:43 AM
fernandis
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That sounds like a good idea. But I would think that you should look beyond realtors. Drive around and look for people selling the houses by themselves. If youíre offering 20% below, then if you cut the realtors 5-8%, then youíd be closer to an amount that would be good for the both of you.
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  #3  
Old 11-22-2006, 02:02 AM
orlando
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Thanks. Did some research, and found a site. www.forsalebyowner.com. Itís just what you said, but I donít have to go driving around. Iím confident that Iíll get something here. Thanks for your 2 cents.
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  #4  
Old 11-22-2006, 02:45 AM
fernandis
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No problem. I donít think that I did anything. I never even knew that there were sites like this. Iíll check it out myself.
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  #5  
Old 11-22-2006, 04:27 PM
peanuts
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Thumbs up

20% is too high-even though it's a buyers market-research is the key. Using a REALTOR affords you the opportunity to have them do the leg work. As a realtor I spend countless hours looking a listings, sales and tax rolls to find the best deals. I've just built my website-take a look !http://www.realtorwebagent.com
If I can be of any help let me know. Good luck.
Thanks

Lynn
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  #6  
Old 11-22-2006, 08:34 PM
orlando
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Thanks for the info.
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  #7  
Old 11-25-2006, 08:47 AM
r8rpwr
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You need to do some research on the market values of property in the area where you wish to buy. You can't just cut the asking price 20% and expect to get an offer accepted. In many areas, houses sell for MORE than the asking price. Personally, if someone offered me 20% below asking price on a property i was selling, I'd consider it an insult. Lowballing won't often get you the property you want; you have to make a fair offer.
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  #8  
Old 02-05-2007, 06:03 AM
medako
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I agree with r8rpwr - offering a fair price is key. Yes, many times owners will accept a lower price for their property, but they aren't going to accept something that's obviously lowballed. I know if I were offered 20% less than my asking price, I would just hold the property until a better offer came along - carrying costs and all.
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  #9  
Old 02-05-2007, 02:24 PM
r8rpwr
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If you really need to buy a house NOW, make a fair offer (based on research about current home values) and I can't imagine you won't find an offer accepted someplace.
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