Profile picture for Vicki MeadowsJohnson

I need to offer a bid on the house I am currently renting the owner wants to sell

  • February 08 2014 - Mason
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Answers (4)

Profile picture for wetdawgs
"don't get too concerned about a measly 3%":   Most people think 3% of their home's value is significant money and to hear an agent talking about "measly 3%" is rather off putting.   In fact, if my agent said that to me or within my hearing  they would quickly not be my agent.
  • February 08 2014
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Profile picture for jaysiah
I'm not sure what your question really is...how to place a bid or how to place THE BEST/WINNING bid?  If you're looking for the winning bid.  You have a great chance of getting the home if you're qualified to buy.  You know the home...so skip the inspection or have it completed now prior to the home going on the market.  The seller doesn't have to miss a beat with a vacant home during the selling process and then stage/ re-paint, re-clean etc. to get ready for the new owner.  With a decent offer, you save the seller a lot of work; why wouldn't they accept yours first?  Just go in prepared.  Get an agent to write an offer (high enough to cover the buyer agent commission), have the inspection satisfied and remind the seller of the ease of transferring ownership directly to you.  Win-Win. 

Also, don't get too concerned about a measly 3% to the buyer's agent who writes the contract (or whatever is standard for your area).  If the home is around $200K that's $6K and with today's interests rates that only increases your monthly payment by about $36 a month.  Don't you think it's worth $36 a month to have someone on your side who knows the correct (legal) documentation to make sure this is a  solid deal? Easier for most to include it in the contract (ask seller to pay it as a closing cost) than to come up with the $$ out of pocket.

Best of luck!!
  • February 08 2014
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are you in a financial position to actually buy the home now?
  • February 08 2014
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Profile picture for wetdawgs
Yes, that it possible.  But, I suspect there is more to your question.  Click on "post reply" to share the rest
  • February 08 2014
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