How much to offer?

**fozzy40** · 01-05-2008, 02:38 PM

I'm putting in a bid on a Chicago condo that's on the market for $369K. As a first time buyer, I'm not sure what is really a good offer. Some people have told me to "low ball" the seller given the state of the market. Any opinions on how much is aan aggressive but nonoffensive offer?

Thank you.

**Codythebest** · 01-05-2008, 05:36 PM

$280K if you are well pre-approved...

**fozzy40** · 01-05-2008, 07:53 PM

What do you mean well pre-approved? I've be pre-approved for $340K.

**carrot** · 01-07-2008, 07:24 AM

Is the $369 comparable to others in the area? I check into that first and use that as a guide and then due to the market offer less maybe $75,000 much more and you may offend them but I'm sure they will not be offended or surprised it's the market right now.

**Mike Taylor** · 01-08-2008, 04:01 AM

Are you not using a real estate agent? I would really recommend this, especially as a first time home buyer.

**Codythebest** · 01-08-2008, 05:31 AM

Originally Posted by fozzy40

What do you mean well pre-approved? I've be pre-approved for $340K.

You didn't say. How can I guess if you are pre-approved or pre-qualified, and for how much if you don't say anything about that?

**carrot** · 01-08-2008, 07:34 AM

I agree a realtor would be best for the first time buyer they can answer alot of question and explain things you might not have thought of.

**gregory** · 01-08-2008, 01:18 PM

Originally Posted by carrot

I agree a realtor would be best for the first time buyer they can answer alot of question and explain things you might not have thought of.

I am not sure if as a first time buyer you can rely on an agent to help you get the best deal. I personally think that it is to their best interest that you buy more expensive since their comission would be bigger.

Just my 2 cents.

**Codythebest** · 01-08-2008, 02:45 PM

Originally Posted by gregory

I am not sure if as a first time buyer you can rely on an agent to help you get the best deal. I personally think that it is to their best interest that you buy more expensive since their comission would be bigger.

Just my 2 cents.

That would be unethical and if you are in an agency state, illegal.