Posted by Matthew on May 16, 2002 at 14:59:23:
Barry- your offer should be realistic, i look at when the last owner bought it and for how much? this will tell me that if he bought within two years the offer has to be high 85-90%, if they bought it 3 or more then 80 or less. it also depends on condition. once you submit your offer,they will,if they haven’t already, get a brokers prefrred opinion (BPO) from a local realtor/appraiser. watch out!! if the realtor wants that listing hes going to set the value out of reach or tell them to fix it and list it for amv. just had a rotten experience where that happened,my buyer is suing the realtor!on top of that the realtor put a cheap repair job in a 200k + home. here in cent. fL thats the game with fnmae/fmac homes fix, list and sell.move on.
matt