Why is that home priced so low? What is wrong with it?

The seller may just be pricing it to "get it out the door" .

If you can buy a home for $15K less than a similar home in the same neighborhood, wouldn't you strongly consider making an offer on the less expensive home?

That is what the banks that own these REOs are "banking on" or hoping for. This pricing strategy is also used in selling shortsales and preforeclosures. You can often trade a little bit/a lot of patience that you have to have in making an offer on a shortsale for a terrific price on a great home.

Price sells. A higher priced home helps sell the other homes around it. Buyers may make an appointment with their realtor to see the higher priced property, but are more likely to make an offer on one with a bargain price.

When you have buyers out looking for terrific deals during traditionally busier real estate times (Summer, for example), it would make sense that there would be multiple offers received on these terrifically priced homes. If your realtor lets you know that the bank has indicated that they are taking and expecting multiple offers, please make your highest and best offer if you really like that home. If you and your realtor determine that this home that you are considering is truly a terrific price for a terrific home, I would strongly suggest that you don't send in a "lowball" offer. This however is a personal decision that you have to make. Lowball offers typically work out during slower real estate seasons (November, December, around the 1^st of the year).

Something to consider also, if you are the highest and best offer and the bank accepts your offer, even if it is a brand new home or newer home, it is always advisable to do a home inspection. It may cost you approximately $425 with a termite inspection, but that is money well spent to have a professional inspect the home and grants you peace of mind.

Happy Home Shopping!! Feel free to contact me anytime with your questions!

Warmly,

Stephanie LeFew, Tampa Realtor, Tampa Homes for Sale

My Services are FREE to Buyers!!

Buyer Incentives Available for my Exclusive customers

Solaris Realty of Tampa Bay

http://www.TampaHomeBuy.com

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813-624-3332