How to buy or submit offer

[Anonymous]

I'm looking at a home. I know for a fact that the value of the home, that is, the appraised value is $ 116,000. Should this be that starting price for an offer, or how would some of you go about this?

Thanks

[Anonymous]

If the house is appraised at that value, the bank won't finance any more than that.  I would offer several thousand below the appraised value but that's what I would do in my area.

[BrianB_The_Loan_Professor]

You really ne know how things are working in your area 

It is very regional and can be very different

In my area homes are getting multiple offers at appraised value

In some areas you may get a deep discount as homes arent selling

I would call a realtor in the area and pick their brain

Good Luck

B