On what property? It is done on a case by case listing. You may want to consider working with a local Realtor to help you sort through the inventory & keep you informed of price reductions.
FYI, free sites like Trulia.com and Zillow.com are nice but they are not considered accurate or up to date. I get clients all the time interested in a property from this site only to find out when I look it up in MLS, it is already Active Contingent or even Sold.... more
I don't see anything wrong in writing offers that are below list price. We do them all the time specially since we have experienced cases where our own Bank-Owned listings have been over-priced.
The criteria we use in writing offers that are below the Listing price are :
1) Days on the Market. If the property has been on the market past 30 or more days in hot markets, it could be headed to an auction. We recently secured a home for one our buyers with 78,000 below list price.
2) Cash Offers - In most markets cash still king, unless you are over-bid by 20 other offers. But if you are writing cash offer, most sellers expect you to pay less that competing contingent (Loan) offers.
3) Terms - If you are willing to close early, that's very valuable to corporate seller.
4) Contingencies. If you are writing clean offers without any contingencies and property needs a lot of work, that's valuable to the seller.
We always tell our buyers that List price is just a reflection of a seller's opinion. It should NOT determine the buyer's money rules. As a buyer your agent should give you enough information to justify your maximum price you are wiling to pay for a property and you should NOT move from that.
It's YOUR money rules and not your agents nor the seller's.... more
Camille i have a 2 bedroom unit on the first floor available at 2952 Lardner St 19149 just off Frankford and Battersby St it is available by appointment Please call me at 215-725-5700 X49
Philip j. Cunningham Sr
V.I.P. Realty Corporation
7942 Butleton Ave
Philadelphia,Pa 19152... more
Again call me at 215-725-5700 X49 I will refer you to people who can help
Philip J. Cunningham Sr.
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia,PA 19152
215 725-5700
Good for you. She probably will use an FHA first mortgage, there is an arm’s length provision that limits the amount she can borrow if she has rented this property for less than 6 months. If she has been there longer than that it might work. Be prepared to prove she has paid all of her rent on time, get copies of the cancelled checks, they are not going to take your word for it. Good luck,
Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time... more
I have been telling sellers to do this for years, collect names and turn over to their realtor, good idea. Even have a page on my site that covers this topic. See the link below.
Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time... more
Hello Daniel
You have a lot of good advice here...one thing I would add - go with someone who knows the area where you want to buy. Sit down with 2-3 agents and select with your gut feel. Real estate is about knowledge, diligence, communication and trust.
I will be happy to sit down and discuss more - my broker is Coldwell Banker Preferred and my office is in Exton. You may learn more about me at www.belavora.com.
Bela Vora
484 947 3127... more
Hi Bakershalonda, it is common. Just means something happened and it is now back on the market. The most important thing is that YOU can now consider making an offer.
Best of luck to you!
I have successfully represented multiple Buyers in the search for and purchase of short sales. If you would like more info, just shoot me an email.
Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
267.507.2287
axelson@kurfiss.com... more
Hi again, Alan is exactly right. Let me know if I can get you a Seller's Disclosure of the issues with the property and most importantly, have you been inside the property yet?
Eric Axelson... more
Hello Ateusch,
I always look at a fixed rate as an insurance policy. It gives you certainty in the future. If you have had an ARM for the past 25 years you have made a good choice and saved a lot of money. However, if you are getting an adjustable rate at this point in time you had better have an exit strategy in five or seven years. Don't assume that you will be able to refinance because if property values are 20% lower you may not have sufficient equity., I am not saying this will happenbut I am saying that you shouldnt make unreasonable assumptions. Be careful. An arm can save you meny but if you have to reifnance in 5 years everything points to higher interest rates and (my opinion here) lower property values then.
Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
NMLS ID 143960... more
Good Evening Inpursuit,
Before the 2008 Mtg Melt Down Yes.... Now.... Natta...Some banks want your first born....
May I suggest get away from B of A... They Are very toxic with County Wides trash.
For a confidential Conversation please feel free to call us at 215-757-2889
All the Best John + Sheri Curci RE/MAX Properties.... more
Hi Nej,
That’s My Back Yard of Business,
Funny thing is ... I have Appraisers call me and ask the same question... and they want to charge you$350 and Up.... Go Figure?
Feel free to give me a call + I will exclude the $350 fee...
All the Best John Curci RE/MAX Properties 215-757-2889... more