Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2 9/5/84; site terak.UUCP Path: utzoo!watmath!clyde!burl!ulysses!allegra!mit-eddie!think!harvard!seismo!hao!noao!terak!suze From: suze@terak.UUCP (Suzanne Barnett) Newsgroups: net.consumers Subject: Re: Re: Need advice on bidding on a house Message-ID: <746@terak.UUCP> Date: Tue, 1-Oct-85 20:18:37 EDT Article-I.D.: terak.746 Posted: Tue Oct 1 20:18:37 1985 Date-Received: Thu, 3-Oct-85 06:38:18 EDT References: <713@whuxl.UUCP> <1898@bmcg.UUCP> Organization: Calcomp Display Products Division, Scottsdale, AZ, USA Lines: 49 > > 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. Perhaps this is so in San Diego, Calif., but, the taxes are city, state and/or county specific. The rates vary from one location to another. For example, adjacent suburbs that are very similar in other ways may use drastically different tax bases. Likewise, in some cases, it is only the land, in others only the building and in others both that are taxed. > > > (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. Best to use one realtor who gets to know your desires, needs and priorities on a home, AND is a member of an MLS. > > > (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. You can find out what FHA and VA will set as mortgage limits, and can get an idea, from your total income, routine expenses and number of dependants what you could probably qualify for. A good realtor can get you this information very quickly. -- Suzanne Barnett-Scott uucp: ...{decvax,ihnp4,noao,savax,seismo}!terak!suze phone: (602) 998-4800 us mail: CalComp/Sanders Display Products Division (Formerly Terak Corporation) 14151 N 76th street, Scottsdale, AZ 85260 Brought to you by Super Global Mega Corp .com