I'm going to buy a house, I could use some help!

AlohaStyle · 02-07-2010, 02:25 PM

There are a lot of good replies here so I won't say what others have said, but it's impossible for us to tell you how much to offer on a house. Every situation is different. You need to look at prior sales history for every house you are interested in so you know in advance where the sellers are coming from. If the sellers just put the house on the market for $200k and you know they paid $150k for it 7 years ago, you know they have wiggle room in the negotiation. If the house has been on the market for 8 months and they have lowered the price down to $200k from $275k and they paid $260k for it 4 years ago, there probably isn't much wiggle room left. They are already selling near the basement.

So there's no right or wrong answer here, it just depends.

Good luck brother, it's an exciting time! My wife and I unfortunately bought our first house shortly before the market collapsed. So we have a lot to figure out in the next couple of years...

02-07-2010, 02:25 PM	#17
AlohaStyle Have My Own Room Join Date: Sep 2009 First Name: Ryan Location: WA Posts: 1,168 Trading: (40)	Re: I'm going to buy a house, I could use some help! There are a lot of good replies here so I won't say what others have said, but it's impossible for us to tell you how much to offer on a house. Every situation is different. You need to look at prior sales history for every house you are interested in so you know in advance where the sellers are coming from. If the sellers just put the house on the market for $200k and you know they paid $150k for it 7 years ago, you know they have wiggle room in the negotiation. If the house has been on the market for 8 months and they have lowered the price down to $200k from $275k and they paid $260k for it 4 years ago, there probably isn't much wiggle room left. They are already selling near the basement. So there's no right or wrong answer here, it just depends. Good luck brother, it's an exciting time! My wife and I unfortunately bought our first house shortly before the market collapsed. So we have a lot to figure out in the next couple of years...