Profile picture for GBLAA

Does anyone know the right offer to make on a brand new consruction townhouse in Lynn MA

The asking price is 238000. It is a 2 bedroom 2 bath townhome there brand new constuction. However the prices there are much much lower than that. I want to make a fare offer but looking at other prices the asking price just seems to high. I do not also want to offend the seller as this is his baby but looking at the market value i was thinking to offer 228000 and have the seller pay all of the closing costs
  • November 08 2011 - Lynn
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (5)

You should always offer what you and your agent think the home is worth regardless of the asking price. Just make sure you are working with an agent who actually does business in this area. In Lynn home values fluctuate street by street and coming up with a price can be tougher than in a more suburban town. Please feel free to contact me anytime. Best of luck.
  • May 04 2013
  • 3Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I agree that you shoud have a broker representing you and have them prepare a broker price opinion for you as part of their services. It will take the uncertainty out of this part of your purchase.  Good luck.
  • November 08 2011
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

You should really have a Realtor representing you - one who has experience in new home sales.  New construction is always going to cost more than older construction.  Your Realtor can help you see why, and help you decide on what you should offer.
  • November 08 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

I always say it is acceptable to submit a low offer ONLY if you can justify the low offer. I would ask your agent to do what is called a CMA (Comparative Market Analysis) for you. That way you would have the detailed information such as comparables in that area with similar sqft, bedrooms, style, and overall appeal inside that will help you justify a lower offer.
Whenever I submit a low offer whether it is 10k low or 50k low I always make sure my clients are fully educated of the market value of the property by reviewing comparables together. That way when we submit the offer I can send a justification to the seller so they are aware we are trying to be reasonable.

I hope this helps!
  • November 08 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Do you have an agent you certainly can write that up you never know what the seller might say.  I have sold a few in the area not far off that price.  Please feel free to contact me and I will assist you.
  • November 08 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.