Spinoff on how to make offers..

How do you know how much to offer on a house? Without giving a ridiculously low offer or too high of a starting offer? How much did you ladies/gents offer toward the asking price??? Any help would be great!!

Re: Spinoff on how to make offers..

What's the going price for similiar houses in the same area? If you check Newsday's web site, they have a section with recent home sales. I would use this as a base price, then deduct any *major* items that have to be done to the house - new roof, siding, etc. If your offer is too low, let them counter.

Re: Spinoff on how to make offers..

if you are working w/ a realtor they should provide you w/ a list of comps and guide you through the offer process.

Re: Spinoff on how to make offers..

-get comps from realtor (my realtor didn't provide much and it was useless but should be ok)
-see what other homes in the neigborhood and going for and hwat you get for the money
-if in Nassau - use sites like mynassauproperty and see values of the houses for yourself
-know how much you want to spend and how much the house it worth to you and stick to it and if it is meant ot be it will be (decide how much work would be immedaite and how much you can afford to spend).

i went in low b/c I felt the house needed some work and based on research on my nassau prop - I felt the house was overpriced. It worked for me. But many people I know go in close to the asking price and it goes for that.