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Dik Hz posted:with the number of success stories in this thread, I suspect we're well over the $1,000,000 level in gained total earnings for goons. Myself included. Thanks in part to the advice in here, I got a good raise recently. Thanks in part to this thread (call it 40% this thread & other research, 40% opportunity, and 20% strategy & personability) I went from grossing 98k in 2013 to 146k in 2014 with a nice 5% bonus to start off 2015. Not bad for a recession graduate. Thanks, everybody. swenblack posted:This is your life. Take charge of it.
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Sep 9, 2015 22:06
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I'm going to buy my first house, and after several months of searching finally found a great home. They're asking $480k. House has been sitting for 300 days---probably due to the high price. Also, the area is remote (I'm increasing my commute to 50 minutes so that I can have an acre of land). My research on comps and the real estate agent's research both line up---my target price is $450k with a walk away price of $454k. This considers relevant similar properties, condition of the house, upgrades they've made, etc. I have the cash to put down up to 20% plus closing costs (~$20-$22k). I'm under no time pressure and can easily walk away. How do real estate negotiations typically proceed? I am preapproved for $900k, and my lender won't give me a letter with no preapproval value listed, so I am confident I should go in with the letter listing my target price ($450k) since this can be modified at any time. But do you roll in with a best and final offer right off the bat and let it sit? Do you make a lowball offer expecting to meet in the middle? I was definitely going to communicate a rationale for whatever offer I make---comps, house quality, upgrades, etc; however, I don't want to be dismissed as not serious off the bat if I come in at $420 on a $480 advertised price even if to me it'd be pretty clear (if I was the seller) what my target price is based on that offer. Also, what's a reasonable offer relative to advertised prices? HGTV shows suggest that if a house has been sitting for 14 days, let alone 300, you can drop that price by $20k. The internet suggests 5% to 10% below advertised is acceptable which aligns with what I'm suggesting. Finally, in this area, it consistently appears that closing prices are 95% to 96% of advertised prices. I feel confident with salary negotiations and car negotiations, but this is a new game for me. edit: I felt this thread was more appropriate for my question than the real estate thread. Thanks for any advice! Sunny Side Up fucked around with this message at 12:35 on Mar 1, 2016 |
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Mar 1, 2016 12:19
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