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From: bobn@bmcg.UUCP (Bob Nebert)
Newsgroups: net.consumers
Subject: Re: Need advice on bidding on a house
Message-ID: <1898@bmcg.UUCP>
Date: Tue, 24-Sep-85 12:47:41 EDT
Article-I.D.: bmcg.1898
Posted: Tue Sep 24 12:47:41 1985
Date-Received: Sun, 29-Sep-85 08:18:21 EDT
References: <713@whuxl.UUCP>
Organization: Burroughs Corp. ASG, San Diego, CA.
Lines: 32

> First of all the prices are outrageous!  I sincerely believe, that
> real estate agents intentionally jack up the listed price of a house
> to increase their commission.  So question one:
> 
> (1) Does anybody have a formula (or rule of thumb) for coming up with a price
> offer, based on the listing price, location and/or other factors?
> 
     If you are going VA then use the appraised value the VA put on it or
     go to your local governmental hall of records and find out what the
     taxes were last year. I believe (If I'm wrong correct me please) taxes
     are 1% of value appraised.

> (2) Is it better to deal exclusively with one realtor or use several?
> 
     The more the better. You can compare the different prices virses the
     property offered.

> (3) Should I apply for a mortgage now, before I've found a house, or wait
> until I find one?
> 
     I went down to a mortgage company and got qualified for a house I was
     thinking about buying. The wife didn't like it so I just dropped it but
     when I told agents that I already was qualified through FHA for $XXXXX
     dealings went much faster.

> Any advice on general strategies for dealing with agents and sellers would
> be appreciated.
> 
> My search is in central NJ, but I think any information would be of interest
> to this newsgroup (I don't think there is a net.real-estate, perhaps there 
> should be), so use discretion when posting, if you have any doubt, mail me.
> 


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