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Determining house values - making an offer

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Heidi | 05 Jan 2013, 01:40 AM Agree 0
I have found a house that I want to make an offer on but not sure where to pitch it.

My confusion is about the land size. It's an older renovated house on 405 SQM. Recent sales have been for brand new houses on 550 SQM blocks. I just don't know how to compare them both.

If a house is listed for 500000 + what does that mean? I assume it means the owner won't take anything less. Or should I still come in under this price point.

Thanks for the advice.
  • Jhai Mitchell | 15 Jan 2013, 05:13 PM Agree 0
    Hi Heidi,

    It sounds like you need me information. Get onto RP data and have a good hard look at what has been selling.

    In regards to "500000 + and assuming it means the owner won't take anything less." It depends on the agent and how he negotiates. if you are going to come in low, get you offer on a signed contract. this will make a low offer hold more weight.
  • james | 18 Jan 2013, 09:29 AM Agree 0
    id give it a shot with what i have and see what happens
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