OfflineI contacted a broker about a few properties she had listed for sale on CL. I did some research to try to and work out the numbers so I could make offers. Here's the info
#1
Asking 69,800----I offered $39,000. This property needed light cosmetic repair(2K)
#2
Asking $79,000---I offered $50,000. This property has a long list of things that need to be repaired about 10K worth. Now that I think about it that offer may be too high.
#3
Asking $108,900----I offered $37,000. After doing my research the asking price was way above what the property was worth. In reality I think the property was worth more like $70,000. Didn't need repairs and was already being rented
#4
Asking$128,000----I offered $70,000. This property is already rented and didn't need any repairs.
I know I left some basic info out bed/bath etc, but where do I go from here?
Are my offers to low ? I asked the broker to tell the owners to counter if they didn't accept but none of them did. So should I try to make another offer or what ?
Hi Lawrence..
I personally don't feel that you under offered. I wouldn't worry about it. If you don't hear back from them doesn't mean you wont down the road. It also depends on how motivated the sellers are. Also if they have been on the market very long. I would sit back and relax and just keep throwing out offers on homes. Eventually it will pop.
Regina
RLK Investments LLC
If they are still on the market in a couple of weeks, re-offer.
Allen & Denise
Denal Enterprises
Ok...I'll just have to sit back and wait
Ok, here I go. I have a chance to make an offer for a friends step daughter to lease with option. She has no money nor do I. I am so new I cannot dry off fast enough.
So asking is $109,900. I have documents showing it auctioned in August 2011, but relator indicates it is a short sale and may have one offer pending.
FMV is according to assessors office $150,644.00, so equity.
I have no team really yet other than CPA.
I think that offer should be around $55,000. Plan would be to hold for as long as possible, unless option is moved on.
Perspective client seems to have solid career with a delivery firm.
I can work with client to determine costs, it is the first steps I am kind of lost on,ok, maybe not lost, just fearing for myself and family as to 'what if'. I know we all have been through it, but till one is done it is just natural.
Any guidance would be great. I truly hope Diane my couch calls this week, looks like I need to call her.
David -n- Anita Maret
Lawrence have you pulled comps on each of the properties that you're putting offers on?