How much would you offer????

How much would you offer????

I just wanted to see what you guys would offer and pay for a potential deal on the totalview the house is worth $143k what is the most you would pay and how much would you turn it for??

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More info.

To make an educated offer I would want more information. What kind of work needs to be done on the property and how much would it cost (What is the rehab cost?). I would also find comps. from an agent to make sure that the value of the property is there. Comps. will provide the most accurate value of the property. Are you looking to fix and flip, assign it to an investor, or rent it out? All these things will need to be taken into account when figuring an offer price.

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offer

There is no house attached to this number iv'e been making many offers I just wanted to see what others are offering and what percent the offers were at.
say the house is $145k and needs nothing is worth 145k in a low crime area nice schools etc.


educated offer

As coach said....most would want to get comps in the area and do your due diligence....not many homes need absolutely NO WORK. If someone says it needs no work at all... .I would be more in tune to look at it and or my contractor.
but I have offered 50 % off list price just by doing a drive by and got it accepted.......the key to most of my buys is asking questions then LISTENING to the sellers MAGIC BUTTONS.!!!
Jay

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thanks

thanks for all your comments but I understand everything you said and the previous person i guess its just another question I didnt get the desired results for but i can see what you guys are saying. there is no house here I was just trying to see what people were paying and what they were making on an exapmle 145k property repairs and everything else aside.


isneed

this may be what youre looking for

http://www.deangraziosi.com/node/3975

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Mike
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It depends on the motivation

It depends on the motivation of the seller and what is owed on the property. If you are not dealing with a motivated seller you are spinning your wheels. Take their info, leave your card, and check back from time to time to see if their motivation changes. If you are strictly wholesaling or rehabbing, you need properties with some spread. If there is little to no equity, you can do a lease option or subject to or seller financing with terms that work for you. Every house has it's own story. I was talking with an investor last nite who bought a probate for $40,000....$10,000 down, no payments for 1 year, then $500/mo for 5 years at 0% interest. Bottom line is, you offer numbers that work for you for the kind of deal you are putting together. That's why it is of paramount importance to find the seller's true motivation. I was dealing with a lady one time who needed cash and had a real estate note for sale. I failed to determine her true motivation. Based on what she told me, things just weren't making sense on the deal. Once I told her I couldn't buy the note or I couldn't find anyone else who wanted to buy the note, she then told me the whole story. To make a long story short, I told her I could get her a great deal and the amount of money she needed. I called her back the next day and she said her husband panicked and gave the payor a big discount for an early payoff. In the end, the couple got $13,000 less than if the husband waited for my offer. By my failing to establish their true motivation and failing to educate them, I lost a deal and they lost $13,000. She was under the misconception that she had to sell the whole $223,000 note. She didn't know she could sell only $50,000 or $75,000 to satisfy the amount she needed. Once you know the true motivation, it is so much easier to construct an offer that makes sense and works for you and the seller. Like the guy with the probate sale...if he had not known the seller motivation, would he have even considered making that offer?