Basing offer of of comparables
I'm looking to make an offer on a townhouse that is listed at $130K but there is a comparable unit next door that sold in March for $116K (DOM 72) it was originally priced at $125K and had a price reduction to $119K. Both units have the exact same layout although looking at the images, it looks as if the one that sold had an issue with the foundation. Another comparable in the same community is currently under contract and was listed at $130K (DOM 30) although I don't know what what kind of offer the owner has accepted. My question is how can I take these factors and account for them in making an offer?
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I'd make an offer that is low enough that you'll be jumping up and down with happiness if it sells for that but not so low that it won't encourage a counter. The exception is if this is a property you just HAVE to have. If it doesn't fall into that category, offer lower than you think they'll accept. If you don't come to an agreement, wait several weeks and try the same offer. It may be more interesting at that time.