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if i make an offer on a BMR unit, how much should i offer above asking?

  • January 16 2013 - Oakland
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Answers (3)

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Thank you that was very informative. The market is in the east bay area (California) inventory is very low and I believe it is a seller's market. Given that information do you think it is listed at the top of the range? 
Jb
  • January 17 2013
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I would contact your local Realtor and find out how much below the unit is priced.  They will be able to guide you on a suitable price to offer.
  • January 17 2013
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It depends on the list price.  BMR unit price ranges are set by the city.  Example: a 2 unit condo may range from $300-$333K.  In a down market (or buyer's market), the seller may need to list his unit in the lower range to compete with the market.  In a rising market ( seller's market), he may list it at the top of that range.  He may not, however, list it AND sell it for more than $333K.  You can check with the city's BMR department and find out what the range is, and this should help you determine what to offer.

Rosie Nysaether
Highland Partners/Better Homes & Garden
510-332-4004
RosieSells365@gmail.com
  • January 17 2013
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