House Offer?

I am an first time buyer and I was wondering what's a good offer for this house. It is in brampton and it is FULLY renovated. We went to the open house today and we love it! It is $270,000. We want to put an offer for 260,000 and go from there, is it reasonable? It has 3 beds and 3 washrooms. There is NO carpet and the deck is new, it has a hottub but it says "Exclude Hottub " so i suppose they want to take it with them right?? What is a reasonable offer?



http://www.semone.com/RESF/REDetail.asp?...

The problem is with the house is that WE KNOW someone will come along and offer such a higher price because the house is very elegant for us... still any ideas? Thanks!

I would offer $250,000 and go from there. They will most likely counter no matter what you offer, and taking 20K off the top is not a big deal at all in todays market...

we had ours on the market at $127,000 and sold it for $104,000.
The one we bought was listed at $132,000 and we bought for $115,000..... that's the kind of market out there today.

yes exclude hottub means they want it themselves.

Good luck.... this is an exciting time in your life...
it is wonderful and nerve wracking all at the same time.

Don't forget that real estate market is local. You need to do comparative market analyzes and see how is the market in your area. If the market is healthy in your area and the house is priced right that is a good offer. But if the market is bad with a lot foreclosures you can get lower. There are a lot of things to take in consideration, local market, days on the market, local economy etc. may be is not a bad idea to consult with a Realtor.

See what the going rate is for the houses in this neighborhood, if the are selling for the going rate then you may have to offer the $270,000 or more or you may risk the chance of someone over bidding/offer on this property. TT your mortgage person, and see what they think. Hopefully this is not the only house you have looked at?

I would say check the market, Nothing wrong with a offer only 10K less than asking.

If they counter your offer ask for the hot tub to be included.