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Updated over 4 years ago,
How aggressive to go on duplex offer?
Given the market conditions right now and the pandemic, I am less sure of what to do when it comes to submitting an offer. I am a new investor and not familiar with purchasing MFH. I am interested in a duplex priced at $379K. A duplex across the street recently sold for $399K and was on the market for apparently 8 months. Based on property values the duplex prices range from $350-$410K. Based on the market situations right now I have this gut feeling that I should go in aggressive with $365 and seller to pay all closing costs. My realtor suggested $379K and seller to pay all closing costs, but not asking for both a price reduction and closing costs. It's been on the market for 2 weeks now and I am solid buyer. Also the seller bought the place for $130K. Is there anything else I should look into to better price estimate this duplex? Would this be too aggressive of an offer? Is price of $379 vs $365 minimal if I can just pay as little cash out as possible? Looking for suggestions or advice on the best approach. Thank you!