How much should I offer for this house???

Question

I'm in Texas and I'm looking at a short sale that is priced at $120K. The house is priced about $68 per sq ft right now. In this type of market how low do you think I could offer without insulting the seller? What do you guys think would be a good final buying price? Thanks!

Answer 1

depends on leverage

Answer 2

Before you make an offer you should check with a Realtor in and around that location to obtain a comparative sales analysis for similar homes in that neighborhood then once you are armed with this information you can make offers 10 to 15 percent below without fear of insulting the seller...

Answer 3

NO ONE CAN ANSWER THIS QUESTION.

What is the home worth.  Have your realtor tell you what has settled in the area in the past 3-6 months.  What did the sellers pay in closing or give to the buyer.

Once you have this information, you can decide what is the best price.  You may find that 120 is a steal and that the house was priced below market to move it.

Also, NEVER use price per sq foot to figure value.  It's like buying a car by the pound.

Answer 4

Without knowing your market ; it is difficult to say .....

BUT; IF the real estate market is like it is here in Florida ... BAD and a Buyer's Market  .... I'd think that an offer of $100,000 would be fair ....