What is a reasonable offer?

[Delta_JimS]

Craig,

Sounds like what our neighbor did just after the Real Estate market imploded in 2007. She sets an unreasonable price for the house in the worst market in half a century and wonders why it won't sell; and a nice house at that.
Nothing we, the brokers, on anyone else could do to talk sense to her.

2 years empty and another $200k down the drain and it finally gets some interest at 30% discount.

Yeah, brokers do work primarily in their own interest, but they are experienced and not stupid.

 

[markpierce]

Let us think about your offer. Ummmmm...

 

[ssobol]

As with most things that have negotiable prices, offer what you are comfortable paying. Not what someone else says it is worth. If they take your offer you get what you want at a price you can live with. If they reject your offer, you don't have buyer's remorse.

There are plenty of boats around. If you don't get this one, another can be found.

Don't fall "in love" with a boat and be willing to pay any price to get it. It won't love you back.

The seller is under no obligation to sell you anything at what you think is a fair price. They can ask for anything they want. It just might take them awhile to get it.

 

[seaK]

All good advice. Thanks all.

 

[Robster_in_edmonds]

My two cents. Deal directly with the seller's broker. They won't be splitting a commission, which makes your offer twice as good. Take two recent comparable sales and offer 15% less. Then the negotiating begins.

Hire a great surveyor and let them discover every problem that needs fixing. Rose colored glasses can cost you a lot.

Estimate the repair costs, multiply by two and you will be close to what you will end up spending.