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Rising Star
Hi Capgemini people, Till 15th November we have to declare our vaccination status so that they can plan back to office for the employees who are fully vaccinated or having report of not having covid. I am Fully vaccinated but if I declare that I am partially vaccinated will they get to know my bluff? Actually I am not much interested to go back to office as of now may be in february it will be fine for me
Capgemini
today I choose violence
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Subject Expert
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Subject Expert
See if you can find a few homes that have sold recently in that area, especially ones that closed below the list price. Then talk to the buyers agent who’s listed on those transactions and ask them how they negotiated the deal.
Mentor
Sometimes you can get 20-30k discount on a 500k home if it doesn’t sell in 30 days. They were going to do a price cut anyway. If you mean like offering 100k off on a 500k home you’d probably have to wait 4-5 months. It will get there eventually or sell. I haven’t seen any fire sale prices yet. But that’s not out of the question this year.
30 days on the market is nothing. Their purchase price is irrelevant.
Do a competitive market analysis. Offer about 90% of comparable homes based on actual recent sales. Expect to negotiate up from there.
In my area, theae types of flips almost always means stuff looks nice but on closer inspection you can tell it was a rush job, done in a budget, and without a lot of thought (i.e., lots of wasted space). By no means do I think I have a special eye for those types of things but they have stood out even to me. It helps that I went to a LOT of open houses.
What area are you in?
Hey thanks everyone for a good discussion- looks like a few folks have seen this in their area too.
For the person who asked, I am looking in Atlanta area in a good school district west of the city, and this is a local contractor / company, not black rock or an institutional investor !! Which is why I am wondering what’s their capacity to sit on these homes for a month+.
The other aspect I am pondering over is appraisal value. Sure the seller can quote whatever ungodly number (300k over the sale price last year , 100% bump after some basic remodeling) but if the lenders aren’t appraising this to that level, who’s gonna cough out additional money and buy such high valuations (other than those who don’t do due diligience). It makes no sense !!
Trying to get a perspective from this community if I can use this rational and put in a low offer with a deadline (am in no hurry but have to buy before June).
Subject Expert
People will pay extra for good school districts. If an appraisal falls short, the buyer just needs to bridge the gap between the appraisal amount and the buy price, which might be less than you think. With crypto and stocks near ATH’s, there’s plenty of cash to make a transaction happen.
Completely agree and align -
Someone always has more money than you in the market 🤪. As someone who doesn’t have a lot, trying to understand if there is a rational low offer to be made here. Like 10% or 20% below asking.
This is the reason the US has state realtors licenses, so they can take a localised market view. Also, be cognisant of the fact that an emotional or lifestyle purchase will attract a higher price than a rational investment purchase, that’s why flips work
This is a field I know well.. regardless of previous purchase prices, just do on market comparisons. If the investment group have flipped them, that’s ok, if the OMV is lower than the asking price, then you have justification for negotiating