The Motley Fool Discussion Boards
Personal Finances / Buying or Selling a Home
|Subject: Re: House for sale - offer expected||Date: 7/3/2013 10:37 PM|
|Author: Heeny||Number: 125724 of 126644|
I would ask the realtor to show you the settled comparable properties for the sale price in the 185 range. If this property has a less desirable location and your property has more amenities such as an upgraded kitchen I would say an offer of 200-210 is fair. It depends how many more mortgage payments you would like to pay - if the carry cost is 1100 and you don't sell for a year you have spent 13000K+ it depends on how the market changes or stays steady in your area. At that point it depends on if your lifestyle permits the work of taking care of 2 properties or hiring someone to do it for you.
Make sure the offer comes with a letter of approval from the bank to show the buyers ability to get the loan. If the market is good in your area you can hold out for a full price or better offer, if it is slow you should consider that as well.
Or ask yourself: Do I want to be a landlord?
Good luck and hope youget a great offer.
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|