Working on getting Sister in law out of current home and into a new home

I hope you can Help your sister In-law.
If the house has been sitting that long, was there any price reductions?
If not that might be the reason, That they need that much to satisfy the mortgage and Real Estate fees. If I were you I would put in your offer and see what comes out of it! All they can say is NO!
They might be interested in Owner Financing at that price?
It all depends on their situation.
Put in an offer and see what happens.

Jay C

I would definitely offer low on this one. Are you sure it is not a short sale? If it has been sitting that long, my offer would start in the 20's. Good luck. I am a twin city girl myself. Glad to see you on here.

Thanks for the replys. We are planning on making an offer on Thursday on this. Jay C
yes there has been 2 reductions on the propery. Cathy Yes i am sure it is not a short sale. I doubt it would be owner financed because there is no one living there now. she moved away for her job i think. I think the biggest problem for being on the market for that long is the on street parking only. Yes it does need some work but it livable right now.

I think I would offer low too, depends on the house values in the area although I know you said there are no comparables, maybe go by price per square ft in the area.

You might not find comparables on that size of house but find comps on the next biggest house you can. In my area I have a couple of properties that I have seen in the 500sqft area. They are usually 1bed 1 bath. There is actually one on mls now. They are asking $44,900 and is in live able condition. If you try you won't be able to find any other comps on that property. But I do know that I can buy in the same neighborhood 3 bed 1 baths at 864sqft for $25k that need $10-$15k in rehab. So I know the $44,900 they are asking is no way a good deal!

repair costs?

as is price vs repaired price?

WHY are they selling?

Any mortgage?

price per sq ft? = comps sometimes

DOM 365+... = must be a reason... find the reason, make offer and maybe make deal.

Nice of you to Help.

Best

Thanks for all the advise on this propery. Yes this property is a 1/1 that is what my sister inlaw wants. The property is being sold by a widow. The property she is selling was a rental of theirs. Repair cost should be less then 10k. The biggest reason this has been on the market that long is the size and the fact there is no parking. My husband will be making an offer tomorrow morning on this property he said that he is going to offer 25k to start. Is that low even for a 1/1 property is worth around 80k. Thanks again and i will keep you guys posted on this.

My husband made the offer on this place on Thursday. We are wating on and answer from the person selling the house and their RE Agent.I think we should hear one way or another in the next 2 days. My husband put a clause in when making the offer that we would like to close by the end of the month so they would have to answer soon if they really whant to sell. I will keep you updated and informed when i find out if we get this under contract. So far i know that we are the only offer and infact we were the only people to look at the house since it has been on the market, almost 1 year listed.

Keep us updated; an interesting property.

Thanks Tammy We think it is interesting too. I have never seen anything like this one.

does the offer of $25 make you feel embarrassed? If not, then you probably are offering too much! (these are the words of "Indiana Joe")

Obviously, this property is a 'problem' for the seller; it's sitting there empty, needs work, and she still has to pay taxes on it; so you need to change your thinking from 'you are trying to get a deal for your sister in law', to 'you are solving a problem for this seller'; when you think that way, it will be easier for you to negotiate.

Wishing you success,

It is 25K not $25 Yes it is a big problem for the seller and no 25K does not make me feel embaressed about that place. If you saw the place you would agree with us. Our RE agent agreed with it too.

Good luck on your offer for this home. Remember to only give no more than 48 hours for a seller to make a decision on your offer. I often like to try for 24 hours if I can. This prevents the seller from shopping to try to get another offer from another buyer. If I made an offer this morning I would only give until tomorrow at 3PM for the seller to accept it. Often if you give a deadline they may accept in a quicker fashion. As to the offer amount, start low you can always come up and make your offer amount an odd amount. Good luck. Believe and Achieve! - Joe

We have put a cluse in so that thay will have to answer us no later then today since the offer was made on Thursday afternoon. We did give a deadline for us to close no later then the 31 of the month.

I meant 25K... not $25.00 and what I was trying to convey was not that your offer of 25K is too low, but the opposite....

You probably meant 'clause' not 'cluse' ....

Good luck with your deal

Thank you Valerie, You are propbably correct about that my spelling is not the best. We should hear something tonight.

We have a counter offer on this odd size property. They have come back at under 50k. We sent out a counter offer to their counter offer to see if we can get something better then their offer. We have done more research on this property and the one the lady ownes next door. We have found that she purchased this house in 97 for 32K so there should not be any mortgage left on this property. She had purchased the home next door about 15 years ago for around 100k. The homes have the same address just on a street right next door. We think that what she is trying to do is get enough money out of this sale to pay off her current mortgage on a house that has a garage and off street parking and is not land locked. The house next door that she ownes also is a two bedroom house and is in much better shape. Does any one out there think that she might think that the two houses would be worth the same? Is it possible that because they have the same address that people would think they should pay more for the house she is trying to sell. Any way we are under 50k and that is where we would like to be on this property. Hopefully we can get her to come down a bit more.

We got this house under contract at 45K. Next step is property inspection that is set for Monday. No closing day set yet but should be with in two weeks.

It took more then 48 hours but we did get this property.Closing is some time this week. My husband has the exact close date. Inspection was done last week. Everyting looks good.

We closed on this Property this afternoon. Key in hand and 1 person to rent the MH that she was living in. On to the next deal.