A Reasonable Offer

I just wondered what others think about making offers under advertised price? I have a budget of just 230k to find something for my first IP in the Newcastle/Hunter region. What price range would you be looking at if you had this much to work with and what type of property would you be looking for? There is only 2 bdr homes in out suburbs, units and some cheaper beach side properties in this price range.

Would sellers that have a home advertised for $260k go down to $230k? I know it would have to be something that has been on the market for sometime.

What about a property in a regional beach area that is advertised for around $200k and has been on the market for a long time, what would you think would be an acceptable offer for this? I realise it depends on a lot of things but I would just like to know generally.
 
It is no good simply knocking $x off the price. You have to do your research so that you know if the asking price is fair or not.

It is no bargain offering $230K on a $260K asking price if the actual value is around $220K.
Marg
 
Would sellers that have a home advertised for $260k go down to $230k? I know it would have to be something that has been on the market for sometime.

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Only one way to find out is put the offer on paper,and see what happens at least that way you gain experience,and confidence,it does not matter what the r-e thinks,only the vendors know what price they want:)..willair..
 
It is no good simply knocking $x off the price. You have to do your research so that you know if the asking price is fair or not.

It is no bargain offering $230K on a $260K asking price if the actual value is around $220K.
Marg

Yes that is a good point but I'm doing a lot of research and would just like to know what is the usual people would bargain at? For example if the average in the location for a 3bdr home like the one I'm interested is $260,000 and the home is listed for $260,000 then what would you offer (generally)?

Only one way to find out is put the offer on paper,and see what happens at least that way you gain experience,and confidence,it does not matter what the r-e thinks,only the vendors know what price they want:)..willair..
I will be doing that too thanks.
 
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