what to offer with no asking price

what to offer with no asking price

Norfolk, VA · Member since 2017 · 1 post · 0 votes

Hello,

My husband and I will be moving to Alaska in the spring, and are ready to hit the ground running on housing.  He is excited for a multi-family, and I would rather a live-in-flip.  As Kodiak is a small island with a large Coast Guard population, homes tend to appear in the spring and go quickly!  We would rather not purchase without seeing, but are open if the opportunity is right.

Fast forward 3 weeks.  While doing our best to familiarize ourselves with the area, our realtor alerted us to a possible off market deal that sounds awesome to me.  The problem is the current owners will be using our agent as their realtor, so we cant have her on our side.  An asking price has not been put forth.   Alaska is a non-disclosure state, so we are unable to see what other homes have sold for, and will only be able to do a facetime walk through.  They did provide a home inspection that came back with only minor issues.

How do you come up with an educated offer with so little information on the house? We have compared the property to others on trulia/MLS, but who knows if they will sell or for what price. We know there is competition and want to put forth an appropriate number, but are also nervous going too high because we haven't really seen the house and the extent of its needs. Any advice on bids and sight unseen buying would be greatly appreciated!

Jen

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  • Jeff CopelandBusiness Member
    Real Estate Broker · Tampa Bay/St Petersburg, FL · Member since 2015 · 1k+ posts · 2k+ votes
    8y

    While I admittedly am less familiar with the concept of non disclosure of sold prices. 

    I would think that, even if the realtor has both sides of the deal, they should be able to discuss their pricing strategy with you (for example, "these three comps in the neighborhood sold for X, Y, an Z, so we are pricing this listing at A"). 

    And it's not too much to ask for them to give you an asking price if they expect you to make an offer.

    Copeland Morgan LLC4.770 Reviews
  • Jordan MoorheadBusiness Member
    Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
    8y

    I would just ask the owner what they want for it.

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