I have been looking to buy a house for a few months. I believe this is the buyer's market, so I have been very patient on finding a good deal.
A few weeks ago, I came across this house, the price dropped to 199.9k from original listing price 219.9k ( I live in a small town, 500k can buy a huge house here). I thought the owner was eager to sell from the sharp price mark down. So, there maybe room for negotiation to drop down the price even further. So I contact my original agent, express my intention about this house to him, he wasn't eager to help me. A few days ago, I found a different agent, she looked into this property, and found out it's a short sale, she said we/listing agent deal directly with the bank, the owner was not involved. And also the listing agent told her she was going to ask the bank to drop the price further, because so far nobody made a offer yet.
I looked at the house, it's a good house at a pretty good location (It's not a "wow" house, but very decent). If the price is right, I would buy it. I told my agent I would like to wait until the price drop again to make an offer then. I think it will be easier for me to bargain with the bank to a lower price this way. But my agent would like to make an offer now, advise me to just keep my bottom line, walk away if I cannot accept their price. What do you folks think which is a better way? I am not eager to move into a house, all I want is to get a bargain (sorry, I am a bargain hunter). I have patience for the right thing. I will be on a three weeks' vacation to China in a few weeks anyway.
I never purchased a house before, please give me your adivses, or your opinions, thanks a lot.
A few weeks ago, I came across this house, the price dropped to 199.9k from original listing price 219.9k ( I live in a small town, 500k can buy a huge house here). I thought the owner was eager to sell from the sharp price mark down. So, there maybe room for negotiation to drop down the price even further. So I contact my original agent, express my intention about this house to him, he wasn't eager to help me. A few days ago, I found a different agent, she looked into this property, and found out it's a short sale, she said we/listing agent deal directly with the bank, the owner was not involved. And also the listing agent told her she was going to ask the bank to drop the price further, because so far nobody made a offer yet.
I looked at the house, it's a good house at a pretty good location (It's not a "wow" house, but very decent). If the price is right, I would buy it. I told my agent I would like to wait until the price drop again to make an offer then. I think it will be easier for me to bargain with the bank to a lower price this way. But my agent would like to make an offer now, advise me to just keep my bottom line, walk away if I cannot accept their price. What do you folks think which is a better way? I am not eager to move into a house, all I want is to get a bargain (sorry, I am a bargain hunter). I have patience for the right thing. I will be on a three weeks' vacation to China in a few weeks anyway.
I never purchased a house before, please give me your adivses, or your opinions, thanks a lot.
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