What should I offer??

[alcoproperties]

So I am a pretty new at the investing part of this. Have been doing birddogging and things like that as a part time fling!!

I am about to buy a house for myself and the g/f and wanted to get some feedback on an offer to make... Will actually be my first offer I have ever made. I have owned a home before but bought my last house off of a family friend...

Here are some details....

4 bedroom 2 bath 1.5 story brick home
2 car attatched garage
2 car detatched garage
.6 acre lot
Privacy fenced in rear yard
Above ground pool
Fire place
Very nice on the outside!!

Asking $126,000
County appraisal $125,380
Zillow $137,000
Comps $139,000
$120,000
$130,000
Taxes $2199.73/year
Insurance $ 600.00/year

Woud like to keep our payment under 900/mon!! I have an idea what I want to start at... Was just seeing what everyone else thinks!!!

According to the realtor they are going to have to bring money to the closing table already b/c they owe more then what they are asking... Don't know if this is true or not...

They sold it last year on land contract for 134,000 but after 6 months those people moved out due to personal reasons or something... has been on the market for about 200 days now. Was at 134,000 and just got dropped to 126,000.

Let me know what you guys think!!
Thanks,
Shaun

[davewindsor]

So I am a pretty new at the investing part of this. Have been doing birddogging and things like that as a part time fling!!

I am about to buy a house for myself and the g/f and wanted to get some feedback on an offer to make... Will actually be my first offer I have ever made. I have owned a home before but bought my last house off of a family friend...

Here are some details....

4 bedroom 2 bath 1.5 story brick home
2 car attatched garage
2 car detatched garage
.6 acre lot
Privacy fenced in rear yard
Above ground pool
Fire place
Very nice on the outside!!

Asking $126,000
County appraisal $125,380
Zillow $137,000
Comps $139,000
$120,000
$130,000
Taxes $2199.73/year
Insurance $ 600.00/year

Woud like to keep our payment under 900/mon!! I have an idea what I want to start at... Was just seeing what everyone else thinks!!!

According to the realtor they are going to have to bring money to the closing table already b/c they owe more then what they are asking... Don't know if this is true or not...

They sold it last year on land contract for 134,000 but after 6 months those people moved out due to personal reasons or something... has been on the market for about 200 days now. Was at 134,000 and just got dropped to 126,000.

Let me know what you guys think!!
Thanks,
Shaun

It's been on the market for 200 days?   They're probably not gonna take less than $126,000; otherwise, the realtor would have been sucessfull in getting them to lower the price and it wouldn't be listed at $126,000 but a lot less.  Just look at the price drop--only $8K in seven months.  They probably got multiple wholesale offers on it when it listed seven months ago and they were only able to go down to $126,000 which probably was their lowest counter offer.  I'd say if you're looking for a wholesale property, look elsewhere.  This one is not worth your time and energy.

[alcoproperties]

Not looking for a wholesale property... This property will be one that I will be living in...