Profile picture for user4860482

Looking to buy house

Looking at a house listed at 87.9K with no central air. If I buy, I will install central air. I want to offer 79K and my realtor did comps and suggests 82.5K. My thinking is to offer 79K because of the no central air situation and to use the difference in the offer for the cost of this?? Is this thinking right?? Should I make this known to the seller as to why my offer is lower?? Just tossing this around in my head.
  • November 17 2012 - US
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Answers (6)

If I were in your situation,and really wanted that home, I would listen to your Realtor regarding the comps.  Obviously, the seller felt central air wasn't necessary. 
  • November 17 2012
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Ask yourself this question please. If someone else got the house for $82,000, would you be happy or would you feel that you should have offered $82,500 as your realtor suggested. Everyone wants to feel that they are gettings something off the list price. But when the house is priced below market value or at market value, asking for more may appear greedy to the sellers. Your offer at $79,000 is almost 12% below asking price. This seems a little low to me. Best of luck.
  • November 17 2012
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Profile picture for user4860482
It has been on the market for 10 months. Originally listed at $99.5K, now down to 87.9K. Does that change your view of my offer of 79K??? Just curious if that changes anything or if I should just go with the 82.5 of my realtor??
  • November 17 2012
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You can absolutely always ask for concessions with a different amendments from the seller. This can be done in your initial offer, or after you have an inspection done. 

Perhaps give the seller closer to the asking price and then ask for a concession later in the process.

Let me know if you have other questions!
  • November 17 2012
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Profile picture for NinaHarris
If you really like and want the house, listen to your realtor. The tools he has available to derive at a price is very different from the system you use. You mention that the home does not have central air-conditioning and would like to reduce the price by $6000 to compensate so you can install it yourself. Do you think that every house that features central air had it installed the day before it came on the market? It was used; therefore, your reduction of $6000 is not justified. Listen to your realtor....in order for a deal to consummate, it takes two people to agree on the final sale price. Good luck!
  • November 18 2012
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Profile picture for Honesty Sells
Start with your offer of 79k, What you're most comfortable offering for the house is most important. 

In this market or any market the seller will not walk away from an offer only slightly lower than what your Realtor is suggesting without countering.

Honestly, if your Realtor is making it hard for you to offer what "you" would like to pay or start negotiations at then look for another Realtor and get a release if needed.
  • November 18 2012
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