Saturday, February 20, 2010

How to buy house below asking price?

My fiance and I are interested in making an offer on a house in NH. The asking price is 228900, the house needs cosmetics work especially in the bathrooms and kitchen. it has been on the market for at least 6 months now. How much below could we make an offer for without being dismissed completely. It is bank owned.How to buy house below asking price?
Banks generally list at their bottom price, and sell as is.





I would not offer less then 225kHow to buy house below asking price?
On bank owned property it is totally up the bank and the market, but you can factor in closing cost and commissions of the listing agent. You can research the property history on an auditor site for your county. By doing this you can see the transfer history and make your offer based on that information. Banks typically set their prices with negotiating room,so it is very likely that any offer could be a good offer. If your offer doesn't satisfy them they will counter offer.Unless there is more than one family putting an offer in.

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