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Barrister
Barrister, Attorney
Category: General
Satisfied Customers: 34253
Experience:  16 years practicing attorney, Realtor, 26 years landlord
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This question is for the real estate expert. We are going to

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This question is for the real estate expert. We are going to be purchasing a townhome in Lakewood Ranch, FL. The asking price is $99,000. What would be a reasonable offer that the seller would accept?
Hello and thank you for using JA! My goal is to provide you with excellent service and help with your legal problem.
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Have you checked the local property appraiser records to see what similar units have recently sold for?
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Is there anything odd with the sale, like a foreclosure, short sale, divorce, etc.?
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How long has the property been on the market?
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Thanks
Barrister
Customer: replied 3 years ago.
It's been on the market for 2 weeks.. Nothing odd with sale.
Ok, I would suggest contacting the local assessor's office here and doing a search for the property to see what it is assessed for. Then I would look up the surrounding properties to see what they are assessed for.
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Link: http://www.manateepao.com/Search/GenericSearch.aspx?mode=owner
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You can click the link and then plug in addresses to see what they are assessed for.
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Assuming that the property was listed by a realtor, they will typically expect an offer anywhere from 5-10% lower than asking price and try to settle somewhere between 3-5% lower than asking price as the final sales price.
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This is assuming that the property appraises for close to asking price.
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So if it were me, I would start out about 10% lower and see what they countered at.
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As an aside, I have also been a Realtor for over 13 years...
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.



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