 Tips for buying an investment property? |
Hello. I would like to buy an investment property. Either a cheap unit or cheap holiday house. Does anyone have any advice or words of wisdom?
Preferably answers from Australian people due to ... |
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 What average can you expect to pay for closing cost? |
Additional Details
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anna_sfa | Buying a house...What should I offer? |
I am wanting to put a bid in on a house. The house has been listed for about 2.5 months and the owners were originally asking 79,000. The just lowered to 74,000 about two weeks. I was thinking of offering 70,000 but I do not know if I should start my offer at around 68,000. We do not want to pay anymore then 71,000. Houses go very fast in my town, what do you think my offer should be? |
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B T
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68K..and if someone bids a little higher, then keep bidding until u reach 71K |
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glenn
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In Texas a seller accepts the first offer that they like. It is not an auction like one of the answers said. If you want the house you should offer as good as you are willing to pay and stick with that price--not play a game of sorts.
Sales psychology tells us there is a huge mental difference between 69,900 and 71,000. I would offer 71,000 and tell them that is all you can do.
If houses go very fast and you are willing to pay 71000 why are you considering anything else?
Glenn |
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ROCKY
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How bad do you want the house? Are you willing to lose it to a better offer? Are you confident that there are no other offers? |
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massomia
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Are you working with a good agent that you trust? It just seems strange that he/she is not helping you with this question. Please get an agent, in a buyer purchase, you pay nothing for representation, and a good agent is priceless. A good agent has "been around the block a few times" and this may be something you only do a couple of times in your life. There are too many horror stories out there, that you haven't even heard of, but an buyers representative/agent has seen it ALL. Good luck to you. I usually explain each possible scenario, from a sellers point of view, for my buyers. If you think $71,000 is a good price, and you are willing to pay it, and you want the home, there is no question here. It must be a win win for both sides. It really should never be you against them. |
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GRUMPY
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Well this really depends on what the house has been appraised for. And what if anything needs to be done to this house. Like if there are any appliances, how old are they? How much property is there? There are a lot of factors. But if they are asking $74,000.00 then I'd offer them $69,000.00. But if that house was in my town, I know the starting price would be at least $100,000.00. |
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linkus86
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If the house is listed by another Realtor, it won't cost you a dime to have your own Realtor working for you. Rather than flying blind into this transaction and overpaying, get some (local) help!!! |
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Avatar the last airbender
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Offer 70K, be willing to settle for 72K. Since the seller already dropped the price they will be probably won't be willing to down to 70K |
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Yasmine P
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If it was listed past the peak market time(spring to early summer) and they dropped the price by $5000 I think $69,000 is a fair price. it still gives you $3000 within your top price and gives the seller a bit to think about. you could easily meet in the middle at $71,000 with you both being happy, and no one feeling "taken." |
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beachlover
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i would offer 70 and ask for 6% seller consession( a seller consession is where the seller pays the buyers closing costs up to a certain amount) It is always best to offer a lower amount and let them counter most of the time the seller will say no to an offer and respond with a counter.
the seller consessions is something rarely used by buyers this can save you several thousand dollars in closing costs. |
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