OfflineBelow is an email that I got from my Realtor. Curious on opinions on it.
115DOM on this one.
The tax assessor has this one assessed at $8,051 (1/3) which indicates a fair market value of $24,153. I don't think it would have a problem appraising all the way up to $28,000.
I think the owner would be fine accepting an offer with a short contingency period for partners approval.
Let me know what price you'd like to offer, and I'll draw up the paperwork.
115DOM on this one. - DOES ANYONE KNOW WHAT THIS MEANS??
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I would probably put an offer in at $5000 or maybe go up to $7000 but I'm a newbie.
I do know what 115DOM means. DOM stands for Days On the Market, so the property has been on the market for 115days.
Good Luck with your deal and keep me posted on how it went.
The key you may want to consider for any potential real estate deal is what are you going to do with the property if you get it. Are you going to keep it and rent it our? Are you going to do some improvements and then try to flip the home for more money? Or are you going to try to control the purchase agreement and assign the home for some cash to another buyer. The exit strategy may help you in determing what you may want to offer for the property. Determine your exit strategy, work the numbers and then see what the numbers may tell you. Good luck on all your deals. Believe and Achieve!
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Your offer would all depend on if there is any expenses needed for repair of the home and so forth. I wouldn't be afraid of starting low. Just becauuse it's harder to price down DOM stands for days on market. That is 115 days. Keep us posted! Much success........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
I should have mentioned, that the listing price is 28k. Obviously I wouldn't make that my offer, but I'm concerned about going to low. It happens to be one of my agents listings....
I wouldn't be afraid of going too low. What's the agent feel on a low offer? Most of the time they have some sense of how flexible the seller will be. Continued success...........Lubertha
"GOD IS STILL IN CHARGE, HE IS THE AIR WE BREATHE"
Remember that when you are dealing with the listing agent, they have responsibility only to the seller. They are not at liberty to pass on any inside information they have about the seller. Ask the agent, or another agent to supply comps on the property. In this case, you will need to do the research yourself.
Wish you success, Al
"NOW GO FIND A DEAL"
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Watch your words; They become actions,
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Watch your character, it becomes your destiny.
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