First time home buyer ?

[omco6]

Trying to figure out what I should offer. Asking price 59K nice little house , would be willing to pay that if I had to. Should I figure the cost of what changes I figure I'd want to make and offer based on that? Is there a given % off I should offer
Thanks for any help

 

[dartworth]

Base your bid on what it worth to you. If you want it badly, bid accordingly

 

[Wingznut]

You can still buy a house for 59k?

 

[Vic]

Originally posted by: Wingznut
You can still buy a house for 59k?

A mannie in a park I guess...

 

[Dacalo]

Originally posted by: Wingznut
You can still buy a house for 59k?

OMG, so damn cheap

 

[Yax]

Originally posted by: omco6
Trying to figure out what I should offer. Asking price 59K nice little house , would be willing to pay that if I had to. Should I figure the cost of what changes I figure I'd want to make and offer based on that? Is there a given % off I should offer

Thanks for any help

As a rule of thumbs, never offer 25% less than the asking price. You can offer less, ask that certain repairs be done and paid for by the seller. All that can be in the purchase agreement. You can even talk to him and have the sale price be higher than what you're actually paying for it. The bank will give him that amount, after which point, he will give you a check for the difference. For money back, you should have such agreements in writing as a rebate and it can't be done within escrow either. By doing that, you can pay the loan with that money and owe less than 80% of the home value so you won't have to pay PMI.

 

[omco6]

Originally posted by: Wingznut
You can still buy a house for 59k?

Well it's the only good thing about the midwest, back home it would be 3 to 4 times that

 

[waggy]

HOlly crap!

we are looking for a nice 3 bedroom in IL. im looking at 150-175k for a house!

59k!? wow!


though my wife's grandparents live in iowa. they have a nice 4 bedroom and they cant get 100k fo it.

 

[omco6]

Originally posted by: waggy
HOlly crap!

we are looking for a nice 3 bedroom in IL. im looking at 150-175k for a house!

59k!? wow!


though my wife's grandparents live in iowa. they have a nice 4 bedroom and they cant get 100k fo it.

Waggy things are quite a ot cheaper on this side of the state I'm in Quincy. The place we're looking at is across the river in Hannibal. It's an older house built in the mid 50s

 

[blurredvision]

Originally posted by: Wingznut
You can still buy a house for 59k?

My mom bought a VERY nice house for $25,700 a while ago at an auction. It's a 3 room/1 bath upstairs, and full basement downstairs, 2 room/1 bath. If she wanted to, she could fix it up and get atleast a tidy profit from it.

 

[Mill]

Originally posted by: blurredvision

Originally posted by: Wingznut
You can still buy a house for 59k?

My mom bought a VERY nice house for $25,700 a while ago at an auction. It's a 3 room/1 bath upstairs, and full basement downstairs, 2 room/1 bath. If she wanted to, she could fix it up and get atleast a tidy profit from it.

Bullsh!t! There's no such thing as very nice house for 25k in the US. Period. Don't even attempt to argue.

 

[FelixDeCat]

Originally posted by: Mill

Originally posted by: blurredvision

Originally posted by: Wingznut
You can still buy a house for 59k?

My mom bought a VERY nice house for $25,700 a while ago at an auction. It's a 3 room/1 bath upstairs, and full basement downstairs, 2 room/1 bath. If she wanted to, she could fix it up and get atleast a tidy profit from it.

Bullsh!t! There's no such thing as very nice house for 25k in the US. Period. Don't even attempt to argue.

But didnt yalls trailer cost just half that? :shocked::beer::brokenheart::camera::clock::disgust::evil::frown::gift::heart::laugh::light::lips::|:moon::music::roll:

:Q:sun::wine:

 

[MikePanic]

get a good realtor, have them help you and make sure you don't bid more then you can actually afford

a realtor, credit check and current debts should make it obvious what you can and can't afford

 

[alm99]

Originally posted by: Mill

Originally posted by: blurredvision

Originally posted by: Wingznut
You can still buy a house for 59k?

My mom bought a VERY nice house for $25,700 a while ago at an auction. It's a 3 room/1 bath upstairs, and full basement downstairs, 2 room/1 bath. If she wanted to, she could fix it up and get atleast a tidy profit from it.

Bullsh!t! There's no such thing as very nice house for 25k in the US. Period. Don't even attempt to argue.

Actually there is, probably just not where you or I would want to live. My grandparents house sold for $13.5k. It was a 3 bedroom 2 bath. Very nice house, but in the middle of no where. Any grocery store, walmart was at least 35-40 miles

 

[Mill]

Originally posted by: alm99

Originally posted by: Mill

Originally posted by: blurredvision

Originally posted by: Wingznut
You can still buy a house for 59k?

My mom bought a VERY nice house for $25,700 a while ago at an auction. It's a 3 room/1 bath upstairs, and full basement downstairs, 2 room/1 bath. If she wanted to, she could fix it up and get atleast a tidy profit from it.

Bullsh!t! There's no such thing as very nice house for 25k in the US. Period. Don't even attempt to argue.

Actually there is, probably just not where you or I would want to live. My grandparents house sold for $13.5k. It was a 3 bedroom 2 bath. Very nice house, but in the middle of no where. Any grocery store, walmart was at least 35-40 miles

I simply find that incredibly impossible to believe unless you are talking about a transaction that took place 20+ years ago. Even a shithole house in Flint, MI or the ghetto around here costs 10-50k. So a NICE house is not possible at that amount. Simply not. I'd life evidence otherwise.