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How Much to Offer |
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I have an interest in making an offer on a rental property. Where should I start with my first offer? 7 or 8 percent less than they are asking, or more? |
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Compare the property you're interested in with recent nearby sales (any real estate agent can give you the information, or you can search real estate sale prices on several web sites.) There's no rule about discounting the asking price, because I can't know if the owners priced it low for a quick sale, or high to see what happens.
Buying rental property you want a lot more than just advice about price. You want to know that it meets the local occupancy standards, whether the tenants have a lease, what problems there might be with the condition, etc.
Good luck to you. |
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Edith
Originally published on November 26, 2007 |
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