How much should we offer for a house?

[Flgirl]

Hi I just have a quick question we found a house that we liked listed for 210,000 in Oviedo, Florida. I was wondering how much is a good offer right now? How much would you offer? thank you!

[Norcal Jim]

I would ask a local agent who can do a CMA for you and show you what the comps are and advise you. Perhaps one of the FL agents on the forum can help you.

[Michael A Crider]

There are so many variables to that question, it's probably best to ask your agent so that they can do the research for you. If they concentrate on that area, that agent will probably know most of the variables off the top of their head. Some items to consider would be:

1. What is the recent market data of listings and solds? (need a CMA)
2. What is the condition of the property?
3. How bad do you want the home? (is this your dream home or are you shopping for a good deal)
4. What kind of sale is this? (pre foreclosure - means a long time to closing, foreclosure, etc.)
5. What position are the sellers in? / how motivated are they? (is the home vacant and sellers are they paying a double mortgage?)
6. Are there multiple offers? / Anything currently working?

These are the main questions to ask before you can come up with a strategy for making an offer and negotiating. Good luck with your purchase.

[Discover Davis Homes]

If you are not working with an agent, I would recommend finding one. As a buyer there is no cost to you to be represented. A local agent will be familiar with the your market and would best be able to answer your question.

[SAJim]

You have received good advice, and I have nothing to add.

[Joe Cline Austin]

i have something to add.

if the home is perfect for you and you want to get it off the market, consider the value of being done, winning (i.e. getting the perfect home), and that interest rates are great right now.

i don't typically offer below market value if the property meets my needs. there is value in winning and being done.

[jolllyroger]

Offer Half price anywhere in florida for a start.........I'm a Realtor and an investor......It never hurts to offfer too little cuz you just might get it ......florida is hard hit with all the stuff going on I hate when people say pay full price its like going to a car daelership and the sales man says pay sticker it's quicker........LOL.......the maket in florida is shot so half price is a great start place I would not go above 30 % off of full price

[AustinReilly]

I think Joe said something that derserves some kudos. If you not an investor and you plan to live in the home for a long time, then find the home you love and offer as close to where the comps show it's worth today. In the end, you'll get the home you want and be done with it. I'm all for getting a good deal but sometimes clients lose out on the home they really want over a few thousand dollars. I've had other clients try to wait out a bad market before they buy only to give up quality of life as they spend a year in a bad rental or an apartment. That year is lost that could have been spent making new friends in the area you really want to live, fixing up the home, and not moving twice!

[DMG]

I think the first 2 replies said it all...

[escapeso]

I would look at comps. If the house is way overpriced even if you offer half you might be overpaying. If the property is underpriced you could have multiple offers and go over and still get a good deal.

Basically list price is irrelevant. You need to look at comps to know what you should offer.