Can you buy homes below market?
*Buy a fixer-upper in a transitional neighborhood, improve it and keep it or resell at a higher price.
•Buy a foreclosure property (after doing your research carefully).
•Buy a house due to be torn down and move it to a new lot.
•Buy a partial interest in a piece of real estate, such as part of a tenants- in-common partnership.
•Buy a leftover house in a new-home development.
What is the difference between list and sales prices?
Are low-ball offers advisable?
What is the difference between list price, sales price and appraised value?
Is a low offer a good idea?
•Is the offer contingent upon anything, such as the sale of the buyer's current house? If so, a low offer, even at full price, may not be as attractive as an offer without that condition.
•Is the offer made on the house as is, or does the buyer want the seller to make some repairs or lower the price instead?
•Is the offer all cash, meaning the buyer has waived the financing contingency? If so, then an offer at less than the asking price may be more attractive to the seller than a full-price offer with a financing contingency.
What contingencies should be put in an offer?
Who gets the furnishings when a home is sold?
Whose obligation is it to disclose pertinent information about a property?
How do you determine the value of a troubled property?
What are some tips on negotiation?
Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for. Before making an offer, check the recent sales prices of comparable homes in the neighborhood to see how the seller's asking price stacks up. Some experts discourage making deliberate low-ball offers. While such an offer can be presented, it can also sour the sale and discourage the seller from negotiating at all.
Do I need an attorney when I buy a house?
What are the standard contingencies?
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