My husband & I have just received a pre-approval for $ 200,000.
The house we want to put an offer on is listed at $ 219,000.
It was previously $ 245,000 and then $ 230,000.
It has been on the market for about 6 months.
We would like to make an initial offer of $ 185,000 knowing that they would have to counter offer.
Is this too low to start in this market?
Also, we have to move out of our apartment at the end of the month.
So, we would like a timeline of when we will be able to move into our new home.
Taking into consideration the mortgage / credit crisis, after the date the offer is accepted, how long is it taking now until the day of closing?