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Seller's ask price is their lowest?

We know someone who sells houses and does not use an agent. He knows how to do that themselves and has a closing attorney. In a conversation about one of their many properties they threw out $110K on a 2 BR home built in 1940. 2 BR but an extra room for a 3rd or a dining room. Yes everything looks fine inside and out and the only thing that might "date" the house was a small closet in the hallway that had the original door and door knob. Then they had to add on a new back porch and were very eager to tell about the soundness of the floor of new add-on as compared to a spot in the kitchen floor. We will of course visit again and see more about some kitchen floor movement on one spot. And the living room floor is painted brown. How far do you think this seller is above the lowest they would take? Yes we know about comparisons and such but this seller prices his own independent of them. The one next door to us which is a 3 bedroom got this seller $82K. We hoped the 2BR was in that price range of say $80-$90K. We can not make and offer and be prepared to walk away. This is the property we want pending inspection, seller disclosure etc. In fact they may not even use seller disclosure forms.Thanks.

Update:

...........You should be seeing the Disclosure form before you make an offer. They legally need to provide it..........

This seller does not use a real estate agents they have sold so many properties. They evaluate what they have into a home and set a price themselves. Seller discloser still required?

Update 2:

Our state says yes with a contract. I assume if the contract has a lawyer involved then it's clearly a legal contract and maybe seller discloser is required. 

3 Answers

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  • Mark
    Lv 6
    1 week ago
    Favorite Answer

    You should be seeing the Disclosure form before you make an offer.  They legally need to provide it.

    If you aren't prepared to walk away, you aren't prepared to make a lower offer.

  • 1 week ago

    It depends on state laws if a seller's disclosure is required or not.  Here in Florida they're not required.

  • Anonymous
    1 week ago

    "In fact they may not even use seller disclosure forms."

    That's illegal.

    "How far do you think this seller is above the lowest they would take?"

    How on earth would we know that?

    "Yes we know about comparisons and such but this seller prices his own independent of them."

    Sale price is determined by what a buyer is willing to pay.   He can ask whatever he wants, but he isn't going to sell the house if there isn't a buyer willing to pay what he is willing to accept.

    "We can not make an offer and be prepared to walk away."

    Sure you can.   As an adult, it's your responsibility to determine what you are willing to pay and then exercise some self-discipline.   If you choose not to, that's on you.

    "This is the property we want pending inspection"

    But at what price?   If you're not willing to walk away, then I guess you'll be paying 110k. 

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