Profile picture for Robert Martin

Robert Martin's Advice

Contributions are sorted newest to oldest.

  • 2 Contributions
  • 0 Best Answers
  • 0 Helpful

Robert Martin wrote:

How much value does central A/C add to a home in Milford, CT?

Answer
I know prices vary with location but that price is ridiculous to me.  I have renovated homes and had new furnace AND central air put in by a professional for $6,500 for a 100,000 BTU furnace with a 3 Ton air unit.  This is recent as well.  I now buy my own equipment and have a licensed contractor put them in and the cost is less than $3,000 now.  Sounds like it's time to do some shopping around for a better deal.
July 19 2009
(0)

Is putting down an offer 17% higher than the listing price normal in my market

Response
Hi JMPata,If you are working with a "Buyers Agent", they should be working for YOU.  That means that their job is to get you a home at the lowest price possible, regardless of the commission.  I am not in your state but what you say is a bit alarming to me as an agent.  IF offering above the list is the norm in that price range, I would want to see 5 MLS Sold Comps that show where properties have sold in that area for above the list price in the past 6 months.  Yes, some homes DO sell above the list price but if that is the norm, then your agent should easily be able to show you by pulling comps and letting you see the data from MLS.Writing 5 offers at once and only being able to afford one home.  That is something I would never do, it's sure to cause you to lose earnest money.  If you are offering above the list price on 5 homes, you put down Earnest Money on all 5 homes.  If any or all of the sellers accept your offers, you will lose 4 of those Earnest Money Deposits.  Why would you risk that?  Why would your agent direct you to do that?  Plain and simple, Earnest Money is what is says, you are EARNEST in your offer.  You can't be EARNEST on 5 offers if you can only afford to buy one home.  Don't lose your hard earned cash.  Make one offer at a time with short expiration dates/time limits.  Also, if there are 5 homes in your price range that you are interested in, the inventory cannot be that low.  I have clients that I wish I could find 5 acceptable homes for in their price range.  Our inventory is high and my clients expectations are even higher.  I would at least try to put in an offer below the list price and start by asking for 3%-6% sellers concessions.  If they counter above the list you can counter them back.  If they don't accept, try the next home.  It's never good to be in a time crunch when buying a home.  Your Realtor's job is to negotiate for you.  If your Realtor is the listing agent as well, you need a buyers agent that is looking out for your best interest. 
July 19 2009
(0)