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Initial offer on a home purchase help
I need help trying to figure out how much to offer for a house. There are currently 4 townhomes being sold in this complex. Two by the builder, one a foreclosure and another is by a home owner. I am considering the model home being sold by the builder. It is listed as the same price as the foreclosure at $119,900. The market I am looking in is Savannah, Ga. Both homes have been on the market for a little over a 100 days and the price for the model was just reduced by $5000. Also the last two townhomes that sold was in October 2010 and December 2010 for $135,000 and $141,000. The one for $141,000 had an extra bedroom though. I am considering offering $110,000 and working up from there. Is that too low? Or should I offer initially less?






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