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Updated over 8 years ago,
Seeking advice buying in MD real estate market
My boyfriend and I are relocating from Pennsylvania to Maryland, and need to find a house that is less than an hour commute from both Rockville and Baltimore. We have been looking in Howard County, Montgomery County, and Frederick County. I've been approved for $215K and we are looking for a fixer-upper.
We have been interested in several properties a this point, but each time we've found ourselves in a situation where there are multiple offers, several being above listing price. In PA, we are used to offering between 70-80% of listing price and then negotiating from there. Is this an effective strategy? Are we wasting our time with these low offers?
Should we expect to offer at or above asking to remain competitive, or should we remain patient and wait for a deal to come along?
Any advice is much appreciated!