 Can anyone tell me the meaning of " buy to flip " in real estate business? |
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i will surely give away the 10 points to the best answer, promise. but i should get the correct answer. and a 5 star !... |
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 Help!! Rent just went up $35 dollars with no notice? |
| Can a new landlord just raise your rent with no notice? Furthermore, can a landlord give you a 5-day eviction notice with no previous warning?... |
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 We are new homeowners,is there a grace period till you are late? |
| are house payment is due on the 1st but we cant pay till the 3rd, will this harm our credit and count us late.... |
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 Live in Landlord? |
| I have been living in an apartment for over a year now.Sharing with a gay male. I have no problem with him being gay, i myself am straight. For the first couple of months things were perfect, but ... |
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 Who should pay the bill, the landlord or us the renters? |
| My gas bill came out outrageously higher than in the past. Our gas bill would usually be of 15 dollars, no more than that, but this time it came out of 200 dollars. The gas company came down and ... |
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 Whether verbal agreement is valid in property law? |
| Purchased a residential property with son in law and it was agreed verbally that on sale or one of us moving out that any increase in value would be split between us on basis of what each of us put ... |
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 I'm thinking about leting my home go into foreclosure, to get a better deal on a bigger home. Is this smart? |
| I bought the condo last year brand new for 244,000 and now the builders are selling the same condo for the starting price of get this 189,000 for a 1,743sq ft 3bed 2.5 bath 2car garage. My plan was ... |
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 Do i get a thirty day or sixty days to move? |
| ive been living in my home for six years and i live on a care home property. landlord has just sold the property. so im not sure if there are any other rights i had. nothing was written in my rental ... |
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 Paying down the principle on a 30 year mortgage? |
| On our monthly mortgage bill there is a designated area to indicate if we are paying for principal only (after the initial payment). Do I still need to write a seperate check for a "principle ... |
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 What is a definition of a SLUMLORD? |
our landlord is..... well.. he sucks!!!
he showed up askin about or leaky hot water tank.... but didnt even bother tryiong to fix or suggest fixin it. he asked my husband what he wants to do ... |
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 RE: My landlord is being investigated for fraud, do i have to pay my rent? |
I posted a question earlier you can view it here - http://uk.answers.yahoo.
I would just like to ... |
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 Why do people bither looking at a home that is for sale,? |
when they dont have the money, are just bored, ***** about everything to get the price down or are just nosey neighbors?
I hate "tire kickers"
Dont ppl have anything better to ... |
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 Lein on house that I did work on? |
| How would I go about putting a lein on a house that I did work on. The people who own the house paid the company I subcontract thru, but the company did not pay me. Now I was told I could put leins ... |
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 Mortgage pre approval question? |
| I am a first time home buyer and i just recieved my mortgage pre approval letter for $116,000 or a maximum monthly payment of 1281.09 including tax and insurance. I was wondering what should by my ... |
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 Section 8 housing? |
| I am currently on section 8 housing. My boyfriend wants to move in with me. I was wondering I don't want to commit fraud but how long after he moves in do I have to tell housing assistance? I ... |
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gabazoo2 | If a house is listed for 177,000 what is a resonable opening bid ? |
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Think i will lowball!!!!Thanks
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haylee p
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I would say 155,000 that way you've got a lot of room for negotiation!!! Trust me I'm a woman |
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acermill
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The Realtor is correct. A listing price is merely a starting point. Listing prices compared to selling prices vary widely by geographic area. You need to find what comparable homes have sold for recently, and then be guided by that figure. It's entirely possible that the home is grossly overpriced, and it's just as possible that the home is fairly or even UNDERpriced.
In my particular area, I've seen a fair share of homes go ABOVE the starting list price. Engage the services of a qualified buyer agent, and ask that person for written evidence of recent comparable sales. |
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Loves2spooge
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165,000 |
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SYJ
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150,000 and keep your fingers crossed. If you really want the house they offer the asking price. |
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Addie
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It depends on how potentially popular the house is. You may then decide to either bid it lower or higher. |
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lloydsills
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170,000. IF YOU THINK THE HOUSE IS WORTH THE ASKING PRICE GIVE THE 177,000 BID ,YOU COULD BE OUT BID |
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Rush is a band
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The answer is a HUGE it depends.
It depends on what comparables have SOLD for in the neighborhood. RECENT comparables.
It depends on how long the house has been on the market (my offer would be a lot lower on a house that has been on the market for 9 months compared to one on the market for 9 hours).
It depends on the motivation of the sellers. Are they relocating for a job? Has the person started their job? Is the house empty? It is bank owned? It is owned by a relocation company? Are you prepared to walk away if you don't get your price?
Two scenarios (extremes, but scenarios):
#1 - the home is owner occupied. The house just went on the market. Fair comparable value is $182,000. You love the house and the neighborhood, the colors, the amenities, etc., it is your dream house! You can afford a $250,000 house, but this one is perfect. I'd offer a full $177,000.
#2 - the house is bank owned. The comparable sales in the neighborhood are $172,000. The bank has had it for 4 months. There is some work you'd need to do to get in the condition you would like to live in it. You can really only afford $170,000. The area has a sales price/list price ratio of 95%. I'd offer $150,000 in the second scenario (It's too expensive, over-valued, institution owned, out of my price range, I am not emotionally attached to it, etc.)
See, it depends. Guidance from your realtor can help, but ultimately, it's up to you.
good luck! |
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bailie28
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depends on the comps in the area...we just bought a house that was listed at 177 we offered by the comps 164 and were turned down flat...we then offered 172 with stainless steel appliances and hardwood floors and they accepted...it was a new house and dont feel bad about the offer and thought the 164 was low but it was based on comps...but there were some comps that were right along the same line..the thing is you can always go up you cant go down |
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Henry
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All of the answers are wrong.
This isn't just a numbers game or finding the sweet spot, but about the market and the circumstances.
What are similar homes selling for in the area? Notice how I did not say "listed" but SELLING PRICES. Big difference here.
What are the circumstances of the owners? Do they need to get it sold quick and move? Are they taking their time? How long has it been listed?
What's your status? Are you pre-approved? How much down will you be putting down? Have you met the other agent or owner?
All of these factors play a role. It's easy to shoot a number and say offer this or offer that, but that's not how it works. Consider all of the above and then make an offer. Don't be afraid of lowballing if circumstances are in your favor. |
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Ecko
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10 bob |
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