{"id":73,"date":"2008-07-01T17:01:48","date_gmt":"2008-07-02T00:01:48","guid":{"rendered":"http:\/\/www.ahousebythepark.com\/journal\/?p=73"},"modified":"2008-08-20T19:17:16","modified_gmt":"2008-08-21T02:17:16","slug":"first-offer-presented","status":"publish","type":"post","link":"https:\/\/ahousebythepark.com\/journal\/archive\/2008\/07\/01\/first-offer-presented\/","title":{"rendered":"First Offer Presented"},"content":{"rendered":"

Before showing up at the property<\/a> yesterday, I asked my real estate agent what he thought the seller wanted for the place and he gave me a low price and a high price with about $200,000 of room in between them. When I was at the house, however, I saw some literature a prospective selling agent put together for the seller which suggested a number at the higher end.<\/p>\n

My agent thought I should bid close to the middle of the range, but once again<\/a>, I do not find myself agreeing with this advice. Since the middle of the range is the absolute most<\/em> I would pay, I think it’s best to start low and move up if necessary. I still haven’t heard an actual price directly from the seller, so for all I know, if I do this deal in cash and waive a bunch of contingencies, I can get it for substantially less than even the seller was thinking. Maybe it will fly and maybe it won’t, but since three out of the four beneficiaries are attorneys, I can’t imagine they wouldn’t be up for some negotiating!<\/p>\n

That in mind, I’ve decided to put my first offer in at $100,000 less than the bottom of the range my agent gave me, $300,000 less than the top of the range, and $150,000 less than what I’d feel 100% comfortable with. The offer is easy to justify, especially when using the first prospective house that I didn’t get<\/a> as a comp. I’m writing in no contingencies (not even financing) except for a quick geotech inspection and hoping that the seller will value a quick close to a solid buyer who really wants to make the place shine again. If I were the seller, I would favor selling to someone who actually wants to live there instead of a developer. Also, it’s well known that end-users like me will generally pay more than developers for properties like this because our time horizons are far longer and we’re not in it for the profit.<\/p>\n

I do not expect this first offer to be accepted, but I do expect it to be a starting point.<\/p>\n","protected":false},"excerpt":{"rendered":"

Before showing up at the property yesterday, I asked my real estate agent what he thought the seller wanted for the place and he gave me a low price and a high price with about $200,000 of room in between them. When I was at the house, however, I saw some literature a prospective selling […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,5,4],"tags":[],"_links":{"self":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts\/73"}],"collection":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/comments?post=73"}],"version-history":[{"count":0,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/posts\/73\/revisions"}],"wp:attachment":[{"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/media?parent=73"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/categories?post=73"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ahousebythepark.com\/journal\/wp-json\/wp\/v2\/tags?post=73"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}