Hey everyone, im hoping some of you with more experience could share some wisdom. This would be my first property i'm purchasing using a conventional loan. I plan to stay in it for a year and then use it as a rental property.
I'm wondering how to know if you're getting a good deal when it comes to new construction. The home was first listed for $340,000 then dropped to $328,000. In person, the realtor said she may be able to get it down to $300,000. But i noticed on the MLS, the prices of other homes sold are listed with price ranges from $280k to $340k which doesn't help with comparing .
It seems like a steal from the off the table price cuts but it also makes me question why.
What are things you look for to determine a good deal?
Not enough info. How badly do you want it? Good neighborhood with expected good appreciation ? If you can get a low offer accepted and then get a Home Inspector in there you may get some valuable info.
Hey Ray! Hope you can consider these to determine a good deal.
Consider Recently Sold Properties Check Out Comparable Properties on the Market Look at Unsold Comparables Learn About Market Conditions, Appreciation Be Wary of for-Sale-by-Owner Properties Explore the Expected Appreciation Ask Yourself: Does the Price Feel Fair Get an Appraisal and an Inspection