For Sale By Owner Question

Q: i am look at a for sale by owner home, when asked how much they are selling their home for they said we paid 600K is appraised at 700K and we are motivated.. they house is in need of a roof, carpet, and painting and the bath needs updating.. it’s the largest in the neigborhood i am not sure what to do at this point

A: It sounds like they did not answer your question. I suggest having your Real Estate agent take you to see some other properties to compare. Then, ask them to do an analysis of the market (as it pertains to the house you are interested in) so you can see the ‘real numbers’. This should help your decision making ability.