Quote:
Originally Posted by gbmohan
I live in Edison(north) in a very desirable community. My landlord is willing to sell the home, since we were looking to buy in the same community. Same model homes go for about 325k range in the area. But the home is in 'as is' condition. Bath and the kitchen ,both are not in good condition. Basically except the floor and the windows, everything is old and needs some work. But the appliance are in working condition. He asked us to give a offer( keeping in mind, the home condtion). Need your inputs about the price offer to start with.. atleast a ballpark.....thx
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If your landlord is trying to FSBO...then you may want to chat him up to discuss about real estate agent (buyer agent for you). Mainly because if you get an agent, he'll need to pay the agent. If he is doing FSBO and you don't use an agent, owner doesn't pay anything. Therefore more money in your pocket but you assume the risk of not having an agent help you through buy process.
As buyer, there is no real downside to use a real estate agent. Seller pays. Agent can definitely help you. Especially if you are a first time home buyer and have no family member who have gone through the process in US.
As for the price. Are those model homes at 325k range also similar level of repairs/upgrades needed or are they finished and ready for move-in? If other homes you looked at are ready to move in, price of owner's home should be less unless location of your home has upside that can make up for it such as great view, privacy, or something.
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