Is there any rule of thumb when working out what to offer on a run-down property?
I've got my eye on one that's in a bit of a mess. The RV is $200K and I reckon when loved up, it will be worth around $330K. It's pretty much uninhabitable right now but with about $40K spent, will come up a treat.
I haven't had a lot of experience of making offers when there's no set price. Don't want to p!ss the vendor off to the point when they won't countersign, but also want to get the best bargain I can, given the work it needs.
Do the gurus work to a formula, or is it pretty much gut instinct on pitching that first offer?
I've got my eye on one that's in a bit of a mess. The RV is $200K and I reckon when loved up, it will be worth around $330K. It's pretty much uninhabitable right now but with about $40K spent, will come up a treat.
I haven't had a lot of experience of making offers when there's no set price. Don't want to p!ss the vendor off to the point when they won't countersign, but also want to get the best bargain I can, given the work it needs.
Do the gurus work to a formula, or is it pretty much gut instinct on pitching that first offer?
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