Placing an offer on a new home

I would say you need to base it more off of comps than a certain amount/percentage off of asking. Asking can be anything and be out of whack.

 

What Yonkers said. Check to see what other homes in the area sold for recently, and if it's a new home, you should check out the builder. See if they have a good rep or not. Is there a busy street nearby you may not like? Is the house under a flight path? What's the drainage like? All sorts of things enter into what a house should sell for. Good luck!

 

Get a buyer's agent. It doesn't cost you anything. Unless you think you can swing a discount from the builder by not having an agent. But you have to be willing to accept that you might also being paying higher than what you would with an agent.
When I bought my house I did not use an agent and that did help me. But I had been looking for 4 years so I knew all the comps, etc, and value.

 

Depends on where you're buying. I live in the Katy area and sold a house recently over the summer and had 9 offers on it within 2 weeks. If you think that is uncommon, just about everybody I know that has sold a house recently in this area received multiple offers and a few sold their homes for MORE than what they were asking for. People were getting multiple hours just within a few days after listing. I got asking price and no buyer concessions. Just do your homework.

 

New homes typically will not drop 9g's as they usually have great value. What builder?


Fiscal year ends in two weeks, tell them you want to close by the 30th and they might give you that 199.

 

It doesn't hurt to ask...that seems like a reasonable counter. I assume you've had the inspection done? Maybe not since it's a new build, but Maybe you can leverage any items that popped up at that there.

 

Talk to your agent. If you don't have one, get one.

 

Go to the county web site and look around for property information. Enter addresses and you can see what they sold for. If it is in Harris County, then it is hcad.org.

 

In addition to what everyone said above, it also depends on how eager the seller is to just close and move. Maybe you can make an immediate lower offer and see their response. However, it's been a seller's market, and if it's a high-demand market, buyers have been making offers quickly and closing without even looking at properties just to make sure they get a good property/location at decent rates before rates and home prices continue to rise further.

If everyone's been selling similar properties at $210, then they're actually already under-selling, but if you notice some things about the specific home that would make it less appealing and valuable than the average comparable property, then you could try to use those factors as leverage to vie for a lower offer. Less likely to have much differentiation and unique circumstances from similar houses though if the properties are relatively new.

 

If the house is at $208k, look at the other comparable houses in the neighborhood. If the house is reasonable in price, you can probably get away with a $10k bid below asking. Granted they probably wont accept, but they might counter with like $203-205k. This is what I have experienced when shopping for my first home. I purchased my home in August. Good Luck!

 

PM me or email me the address. I'll take 10 minutes out of my time to find some sold comps for you if it's not too hard. Like if the builder built 10 houses in a row, and sold some recently, then that'll be easy.

 

HCAD doesn't show true value only appraised value for tax purposes.

 

My mistake. I thought it showed last sale amount. I guess I am used to my county web site showing that information.

 

My bad, I was assuming you were asking about Houston. My real estate database access is only through HAR. Nice house btw. From what limited experience I've had in the Hampton Roads region, I've liked it.

 

Interesting to see how houses look different in different regions of the country.

 

Hey TexasStake- my wife is an agent and has helped several members from this board, I just sent you an email.