Offers $200k +

[cornflower]

I've never made an offer on a house that was listed as $XYZ + before. I'm not sure exactly how to approach it. Theoretically I could just offer $201k.. correct? Or should I try to go lower than the $200k? Would the lower limit be something that the vendor has put into effect?

Hmm.. don't really know where to start with this one.
Any ideas on how I should approach this?

 

[Mick C]

Dont be turned off by the"over" xxk listing...i seen plenty of sold price go below the over xxk.

Do your research on the area for simliar SOLD prices ( not listing) and go form there.

Regards
Michael

 

[Propertunity]

Any ideas on how I should approach this?

As Mick C said, you should work out what it is worth, and then offer lower than that, allowing yourself some 'wriggle room' to move up a bit. What the listed price is, matters little IMO. (Every vendor can dream).

 

[Andrew_A]

I've found that it's good to find a way to justify what you offer, whether it's from comparable data or just 'we really like this property but this is close to our limit for an offer'. Sometimes people do really mean 200k+ and other times it's just a way that a listing is conducted.

 

[Edge7]

I've never made an offer on a house that was listed as $XYZ + before. I'm not sure exactly how to approach it. Theoretically I could just offer $201k.. correct? Or should I try to go lower than the $200k? Would the lower limit be something that the vendor has put into effect?

Hmm.. don't really know where to start with this one.
Any ideas on how I should approach this?

Theoretically, yes you could offer $201k. I would try to ascertain who set the price. Is it the agent or the vendor?

This seems to be a more popular technique nowadays to create a mini auction environment. If you are to make an offer, do your own research, be certain of what you are willing to pay (which could be less than $200k) and put a time limit on your offer to minimise the agent shopping your offer against other interested parties.

 

[RightValue]

Asking prices are immaterial.

I am going to value a property tomorrow that recently Sold.

It was advertised for Auction at $800-$880k

Later it was advertised $730-$795.

It has sold for $693k.

Another one a month or so ago. On the market for a year, Initially asking $680k, sold for $485k.

 

[cornflower]

thanks for your feedback folks!

I called the RE about it, so we could organize a time to get in and have a look. He told me that "I'm showing some other folks around it tomorrow at 12:30pm if you can make it to that."

Unfortunately I had a medical appointment in Sydney that day, so I told him that Mr Cornflower and juniors may be able to come instead. He asked me to call him if they weren't coming.

Anyways.. Mr Cornflower freaked at the idea of doing an inspection alone with 2 small children in tow (wuss). So I called the agent a bit before the inspection time to let him know.

Apparently he was already in the car and on his way there when I called.. and he sounded miffed.

I'm wondering if the "other people" he was supposedly showing it to was a ruse.

He wouldn't make another appointment time with me right then, and hasn't called me back.. it's 3 days later. Now *I'M* miffed.

 

[cornflower]

It's..

been on the market since April last year.

maybe the vendor suffers from magical thinking so the REA isn't really bothering to push it.

Or maybe the REA is just a rude little bugger trying to play chasing games with me.

Another agent in that agency was also listed as a contact for this property.

I might give her a call instead.

 

[wylie]

been on the market since April last year.

maybe the vendor suffers from magical thinking so the REA isn't really bothering to push it.

Or maybe the REA is just a rude little bugger trying to play chasing games with me.

Another agent in that agency was also listed as a contact for this property.

I might give her a call instead.

I would do that. Teach the other agent a lesson in manners

If you buy it, he will have to share the commission with the other agent .

 

[cornflower]

...

Called the second one.. apparently she isn't with that company any more.. took my number to give to the guy I'd already called.

And 'round and 'round we go!

 

[cornflower]

Finally secured this property....

at $175k.

Now the renovations begin!

 

[kathryn d]

at $175k.

Now the renovations begin!

Great outcome.
Congrats

 

[MsAli]

at $175k.

Now the renovations begin!

That's awesome cornflower! Where did you buy?