All Forum Posts by: Brendan Francis

@Jarrod Kohl - really appreciate the suggestions. Thanks everyone. We really appreciate all the insight.

Just so all future commentors are aware, the property has been listed for over four months.

@David Barnett, the property is 2b/1b approximately 630 sq. ft sandwiched between two of the green lines in Brighton.

@Luis Sanchez Rodriguez We want to buy it and make it our residence for five years then sell it for a higher price or rent it, depending on what the market is like at that time. We are willing to make some improvements to it while we live there. Thank you.

Our agent is telling us that if we offered $400k for this condo, it could be viewed as disrespectful and damage negotiations from the outset (he would prefer offering $415-$420 and moving up from there if there is a counteroffer). He/she is telling us this is not a buyer's market (condo market in Boston even with COVID) and then he/she proceeded to go through all the other condos we requested to and found something wrong with each one of them (he didn't do this for the condo we are close to making an offer on though). I hate to think this, but maybe he/she is trying to make it seem like we don't have much leverage in this situation so that we are more willing to make this deal. We already decided what our upper limit is for a condo purchase price. Maybe he/she wants to get us to that so he can make his company more money. Can anyone comment and help us figure out how much leverage we have here and whether a $400k offer is an insult? Any other thoughts are appreciated. Thank you.

Thank you, Angel!

We’ve heard we can get 10%-15% off listing price for condos on the market for several weeks. But we don’t know about the Boston market during covid. Maybe it’s more or less than standard national averages. We want to buy as low as possible and resell the condo in five years, after covid, for a profit. We’ve heard properties along the green line in Brighton are projected to grow in value due to expansion from Harvard, etc.

Anyway, that’s what we know and think so far. We really appreciate anyone who has more knowledge helping us figure this out. Thank you!