We about about to put an offer on a house for the first time We know there are multiple offers, on of which is asking price. How much about should we offer??? I was thinking 5K (we also have 20% to put down and no house to sell).n Is that enough?
JimmysBride
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What do you mean $5k? Five thousand over the asking price???
julz33
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Posted by JimmysBride
What do you mean $5k? Five thousand over the asking price???
Yes
JimmysBride
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Yep... that sounds about right. Think of it as for every $5k you add on to your offer you are adding on approximately $20 a month to your mortgage.
Mandy77
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Only put down more than the asking price if you feel it is worth that!!! Who is telling you that there are multiple offers including one that is asking? How long has the house been on the market? Are you working with an agent?
janwinterbridejoy
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thats sounds about right unless its grossly underpriced i wouldnt go above that. where is the house how many bedrooms,baths? also make sure you figure in the updates you will need to make to the house if any
RedHead
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Posted by julz33
Posted by JimmysBride
What do you mean $5k? Five thousand over the asking price???
Yes
I think offering 5,000 more than the asking price is good! Make sure that your 20% dp includes that extra money! 20% down is excellent! And if you can afford the MP that GO FOR IT! Good Luck
Bebalina
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Posted by oct.2004bride
Posted by julz33
Posted by JimmysBride
What do you mean $5k? Five thousand over the asking price???
Yes
I think offering 5,000 more than the asking price is good! Make sure that your 20% dp includes that extra money! 20% down is excellent! And if you can afford the MP that GO FOR IT! Good Luck
ditto...keep us posted!
cluelessbride
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Julie jsut be careful that you are getting the asking price info from a reliable source.
How exciting!!!!!!
nov04LIbride
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Posted by julz33
We about about to put an offer on a house for the first time We know there are multiple offers, on of which is asking price. How much about should we offer??? I was thinking 5K (we also have 20% to put down and no house to sell).n Is that enough?
If it is their real estate agent telling you of the offers, be wary! They can lie to up the price. Also, make sure you figure in about $10,000 you will need for closing costs. Subtract that out of the down payment $ unless you want to add it to the mortgage amount and up the monthly payments. Good luck, keep us posted! Where is the house?
Chrissa
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That sounds about right!
Congratualtions! I just bought a house with FH if you have any questions i would be more than happy to try and help you!
Many times through the closing of the house I saidI wish they had a book called 'buying a house for dummies'. It can be very stressful, overwhelming but also so so exciting!
Good luck and keep us updated!
julz33
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Their RE agent told our RE agent that there were mulitple offers and that they were deciding MOnday at 5:00. He said they got asking price. That might be a lie but from what I have seen so far this house is awesome for the price. It has only been on the market for a few days. We thought of it this way... if the house was on the market for what we are bidding (over the asking price) we still would have put in an offer. This is everything we are looking for in a house I would hate to lose it over a few thousand dollars.
We already know about the closing costs and other fees. It is not going to be in the mortgage, we have the $.
She is putting in our offer tomorrow morning. I will not tell any more details yet because I don't want to be dissappointed!!!
julz33
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Posted by janwinterbridejoy
thats sounds about right unless its grossly underpriced i wouldnt go above that. where is the house how many bedrooms,baths? also make sure you figure in the updates you will need to make to the house if any
All updates are cosmetic and can be done slowly depending on what the engineer says of course!
