How low do you go when putting in a lowball offer on Metro Detroit Real estate?
Well it depends. Here are some of the factors you should look at.
- How long has the Metro Detroit home been on the market?
- Is it bank owned, corporate relocation, or is the seller still living there?
- What is the home sellers motivation? Are they relocating, just buying up? downsizing? retiring? divorcing? lost a job?
- If the seller still owns the house, how much do they owe?
- Is the house overpriced right now?
- How does the house compare to the homes that have sold in the last 6 months within a mile with the same features?
- What is the condition of the house? What will you have to put into the home to make it like most of the homes you have seen?
- If it is an outstanding home that is updated and is ‘one of the best that you have seen’ and it is priced well then you shouldnt be low balling the price too much if you really want it.
I dont believe what the seller paid for the home has anything to do with what you want to buy it for. Who cares what that Metro Detroit Home was bought for.
The key is too get the home at a deal. The key is look at the comparables in the area. Can you buy it for the average sold price or less. Then you are doing the right thing. If you are buying metro Detroit real estate and are at the high end of the sold homes you may be paying too much.
For more buyers articles check out the category on the side of this page ‘buyer tips’ or click on the search for homes button on the top of the page to view homes. For more information on Metro Detroit real estate go to www.RussRavary.com lots of great Michigan relocation information
Here is my quote of the day on adversity:
That was rough…. Thing to do now is try and forget it…. I guess I don’t quite mean that. It’s not a thing you can forget. Maybe not even a thing you want to forget…. Life’s like that sometimes… Now and then for no good reason a man can figure out, life will just haul off and knock him flat, slam him agin’ the ground so hard it seems like all his insides is busted. But it’s not all like that. A lot of life is mighty fine, and you can’t afford to waste the good part frettin’ about the bad. That makes it all bad…. Sure, I know – sayin’ it’s one thing and feelin’ it’s another. But I’ll tell you a trick that’s sometimes a big help. When you start lookin’ around for something good to take the place of the bad, as a general rule you can find it. ~From the movie Old Yeller