Making an offer on a house-need advice

forgop · 02-03-2010, 05:44 PM

I currently will have my house paid off in the next week and want to upgrade because we're getting a bit cramped in our current home. Obviously it's a buyers market and I can take the plunge to pay cash for the new house without having to sell our current home first.

I'm looking for something in the range of $275k-$300k. I found a really nice house listed for $299,900, so what would be a decent starting point? This house in particular was built in 2007 and has never had anyone living in it. It is now bank owned I believe and feel like they may obviously be motivated to sell it. Do you think $239,920(80%) be an unreasonable starting point for someone that has the capability to wire the money to them the same day? (Obviously, I'd go through inspections and such before doing it).

I know if I got it for that, it would be a STEAL, but you just never know.

02-03-2010, 05:44 PM	#1
forgop Not a puffer Join Date: Oct 2008 First Name: Duane Location: Indianapolis, IN Posts: 2,869 Trading: (40)	Making an offer on a house-need advice I currently will have my house paid off in the next week and want to upgrade because we're getting a bit cramped in our current home. Obviously it's a buyers market and I can take the plunge to pay cash for the new house without having to sell our current home first. I'm looking for something in the range of $275k-$300k. I found a really nice house listed for $299,900, so what would be a decent starting point? This house in particular was built in 2007 and has never had anyone living in it. It is now bank owned I believe and feel like they may obviously be motivated to sell it. Do you think $239,920(80%) be an unreasonable starting point for someone that has the capability to wire the money to them the same day? (Obviously, I'd go through inspections and such before doing it). I know if I got it for that, it would be a STEAL, but you just never know.