I am making an offer on a house that is listed for 106,500. The people have to be moved to Rhode Island by

Question

September 1st. No other offers have been made on the house. What do you think I should offer?

Answer 1

Coming up with an offer price is a complex subject. I'd start by removing distractions that have nothing to do with the value of the property or your interest in it ... like for instance the listing price or the fact that the seller is moving to Rhode Island next month. Don't get sucked into the "motivated seller" routine.

Answer 2

I would offer something considerably lower.  They will either accept your offer or make a counter offer.  You can always raise your offer if you want to even if it is less then their counter offer.  after that, you can dicker back and forth until you both accept or reject a final offer.  However, if you offer them the whole 106500, you can't come down.  I'd probably offer them something in the neighborhood of 100000 and see what happens.

Answer 3

I’d make that decision based on what comparable properties have recently sold for. Your buyer’s agent can provide you that info.

Sellers will not always counter an offer they don’t like. If they feel insulted by your offer, they can simply reject it. It can and does happen all the time. Get your data and make a reasonable offer based on it.