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Updated almost 10 years ago,
I am doing offers right???
I need help with offers and counter offers. I understand the whole concept of low balling, but how do you get that low ball offer and work with counter offers? This is my process:
Seller is asking for $182000.
Because I have no MLS access, I find my ARV through Zillow, Real Quest, and Total View. I average the three estimate.
Then I go on Zillow, and I compare the recent purchase prices in the area. And see if the ARV is even close to my comp.
Ex. Zillow: 178. Real Quest: 165 Total view: 185. ARV = 176.
ARV × 65%= 114.
Comps: 164, 155, 172 = 163.7.
Now here's where I get confused. Would in offer the seller 114? Then work my way up or would I offer my comp average - repairs/fee?
Sorry everyone, I'm a newb. :-\ I am determined to get this.
Respectfully,
The new kids