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.
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.
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.
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.
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.