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I am in the process of buying a condo. asking price is $159,900. What is an acceptable offer for this?
This is a brand new community, Its drywalled so I get to choose my finishing and appliances etc. The seller/owner does not work with other realators for this particular community. either you work with him directly or you bypass the community all together. Since he is both the buyer/seller agent, how do I go about making an offer since this would normally be the buyer's agents job?
also what is a reasonable offer to make on this condo located in Madison,WI?
quick descr: it;s a two bedrm, 2.5 bath storey unit w/ 2 car garage, an unfinished basement, finished pation/deck in the back. Sale price includes appliances( frontload washer, all appliances are energy star rated). The community is a 40 unit condo that is mainly owner occupied ( 2 units are rented out)
This is my 1st time buying a house so any answer would be helpful.
You have to see what comparable places sell for near buy. The seller's asking price is irrelevant. If they were asking $400K for the same place, would it be worth anymore?
Since it is a new build, you probably can't negociate on the price too much (they do not want to set precidence with other buyers), but you can probably get some upgrades for free. Try that angle. Get free granite counter tops, better tile, the nice hardwood floors, etc
Also remember that since you are the first buyer for a house, you will have to pay the title transfer when you buy and when you sell (usually only the seller pays, but the builder will make you pay. It is usually around 1%)
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