3. How much did you pay for the home (and when)?
Knowing how much the seller paid is helpful for a couple of reasons. First, it tells you if values in the local market have gone up or down since the seller purchased the home. Second, it may help you determine how open the sellers may be to negotiation, and here’s why: If the sellers bought the home at rock bottom, they may be more willing to move down on price since they will still make a reasonable profit. If your sellers purchased the home for close to or more than the asking price, however, they probably won’t be willing to move much – if at all – on price.
If the sellers won’t tell you what they paid, you can find out by checking the public records. They are available at the Register of Deeds (or a similar office, such as Recorder of Deeds) in the county where the property is located.
Read more: 10 Questions You Should Ask A Home Seller http://www.investopedia.com/articles/personal-finance/042115/10-questions-you-should-ask-home-seller.asp#ixzz3sHbVsQ45
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3. How much did you pay for the home (and when)?Knowing how much the seller paid is helpful for a couple of reasons. First, it tells you if values in the local market have gone up or down since the seller purchased the home. Second, it may help you determine how open the sellers may be to negotiation, and here’s why: If the sellers bought the home at rock bottom, they may be more willing to move down on price since they will still make a reasonable profit. If your sellers purchased the home for close to or more than the asking price, however, they probably won’t be willing to move much – if at all – on price.If the sellers won’t tell you what they paid, you can find out by checking the public records. They are available at the Register of Deeds (or a similar office, such as Recorder of Deeds) in the county where the property is located.Read more: 10 Questions You Should Ask A Home Seller http://www.investopedia.com/articles/personal-finance/042115/10-questions-you-should-ask-home-seller.asp#ixzz3sHbVsQ45 Follow us: Investopedia on Facebook
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