Posted by JoeKaiser on June 15, 2001 at 13:40:35:
The agent’s opinion is a negotiating nugget. Can you get that in writing?
Joe
First deal? Help structuring offer please - Posted by Allyn
Posted by Allyn on June 15, 2001 at 13:18:32:
I started a post with minimal info yesterday. Went to see the place and talk to owner today. Here’s what I have:
2br/1ba, about 1/3 acre, house about 60 years old, owner has been there 40 years, recently retired and not getting retirement benefits yet due to paperwork screwups, money very tight, $120,000 mortgage, mortgage company has already reduced his payments to interest only (about $600/mo), house definitely needs alot of work. Agent called it a tear-down. Similar houses on his side of the street are valued $160,000 - $165,000. Larger houses and lots across the street are in the 1 acre category and run in the $500,000 - $750,000. It is a very mixed neighborhood. He is across the street from water and it is listed as water-privileged and water view.
I don’t know if I left anything out. Any ideas would be appreciated.
Thanks, Allyn