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House Needs Updating |
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I saw a house that I would like to make an offer on. The house does need updating but is livable. The updating that needs to be done will be about $50,000. The asking price for this home is $579.000. I would like to offer $525,000, is that a fair offer? |
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The answer depends on how the house was listed in the first place. Perhaps the owners already took the needed updating into acount when they set their price. Perhaps the place is overpriced compared to others in the area. Perhaps they set a bargain price for a quick sale. There's no way to judge from this distance, without knowing what the competition in the market is like, and how much nearby similar property sold for recently. Those are the things you need to be looking at. |
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Edith
Originally published on July 2, 2008 |
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