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What to Offer |
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We are a young couple from Philippi WV looking for a small home to start out with. Recently a house opened up close to my parents. The house is 3 bedrooms, and 2 bath rooms. It also has a small one car garage. It sits on a hill and has a pretty messed up driveway. The house alone is only 1200 square feet including the garage. The guy wants us to make an offer, but we have no idea. What would you think would be a fair offer? Thanks |
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It is indeed clear you have no idea, if you think that a stranger who doesn't know the local market can possibly tell you what that house is worth. In some parts of the country it would be worth $89,000. On the other hand, there are places where it could easily be sold for $450,000.
In order to judge the value, you need to research how much buyers have paid recently for nearby similar properties. The data is available at several web sites, or from local real estage agents. You can also get some idea by reading ads, in your local paper or on the Internet, for properties being offered in that neighborhood. Or you could hire a qualified appraiser to give you a simple estimate.
If I were in your shoes I'd hire a local real estate broker; perhaps you you can find one who will work paid by the hour, to give you advice, guide you through the negotiations, help you arrange financing and smooth the path to the final settlement. It sounds as if you could use some professional help. |
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Edith
Originally published on April 27, 2008 |
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