For those that purchased or are in the process of purchasing a home, how much lower than the asking price did you offer? Was it 10% or more? We know to offer much lower than the asking price, but we don't want to insult the current owners and throw ourselves out of the chances of them accepting our bid.
It's really hard to give a round-about percentage. There are many things to take into consideration.....are they looking to move quickly, is it an older couple that really doesn't need the money for another deposit on a house, are there many other people putting in offers, is there a broker who you know won't budge anyway, will there be the need for updates/repairs or renovations? You can chop money away that way and back up your lower offer with the above reasons.
Posted by DiamondPipa
it depends on how much we like the house. If it's the one we REALLY want and LOVEEE and it's perfect for us, we are going to offer like 20K less. If it's one that we really like and would LIKE to have as our home, we go 13% lower. We have been looking for 1 month now and have not been lucky![]()
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we offered 15% below asking and countered us with the 10% below.....i can't believe I have been a home owner for almost a year.....crazy
It really depends on the seller and how much they really want to sell their home. I have seen situations where the sellers were getting divorced and had to sell and accepted 65,000 less than the asking price. I have also seen situations where the sellers wont take anything less than the asking price.
it really depends on the seller..ask questions like why do they want to move, when, so you can see how fast they want to get out or how much they really want to sell their home..people who are in a rush will most definately grant the lower bid...but theres also those people who need to pay off their mortgage and will not bend at all..especially if they are in debt or need the money
Posted by MiciB115
Posted by DiamondPipa
it depends on how much we like the house. If it's the one we REALLY want and LOVEEE and it's perfect for us, we are going to offer like 20K less. If it's one that we really like and would LIKE to have as our home, we go 13% lower. We have been looking for 1 month now and have not been lucky![]()
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It's only been a month. Keep looking! You'll find something you love soon!
Posted by kellygirl
Posted by MiciB115
Posted by DiamondPipa
it depends on how much we like the house. If it's the one we REALLY want and LOVEEE and it's perfect for us, we are going to offer like 20K less. If it's one that we really like and would LIKE to have as our home, we go 13% lower. We have been looking for 1 month now and have not been lucky![]()
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It's only been a month. Keep looking! You'll find something you love soon!
We have been looking since last summer and have had no luck. We are willing to wait for the PERFECT house and the right price, even if it means passing up a house we LIKE. I guess we won't be as picky after the wedding. But someone said the other day that the market is going to drop another 5% in April. GL!!
that would be awesome for us!
Posted by kellygirl
Posted by MiciB115
Posted by DiamondPipa
it depends on how much we like the house. If it's the one we REALLY want and LOVEEE and it's perfect for us, we are going to offer like 20K less. If it's one that we really like and would LIKE to have as our home, we go 13% lower. We have been looking for 1 month now and have not been lucky![]()
![]()
It's only been a month. Keep looking! You'll find something you love soon!
We have been looking since last summer and have had no luck. We are willing to wait for the PERFECT house and the right price, even if it means passing up a house we LIKE. I guess we won't be as picky after the wedding. But someone said the other day that the market is going to drop another 5% in April. GL!!
Posted by DiamondPipa
it depends on how much we like the house. If it's the one we REALLY want and LOVEEE and it's perfect for us, we are going to offer like 20K less. If it's one that we really like and would LIKE to have as our home, we go 13% lower. We have been looking for 1 month now and have not been lucky![]()
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Posted by Espo22
it really depends but if youre working with the real estate agent he can give you more info...for example how long the house has been on the market and maybe even the couples situation.
When i bought my apartment a few years ago we were in a great position because the couple had already moved their family to florida, their kids were there with the grandparents they even sent all their furniture and belongings...the couple was living in the apartment with just a TV and a bed. I guess they didn't realize the process can sometimes take longer. OUr real estate agent was the one who told us listen you definitely can make a lower offer and he even suggested to us how much lower to go and they did take it.
Posted by MiciB115
Posted by Espo22
it really depends but if youre working with the real estate agent he can give you more info...for example how long the house has been on the market and maybe even the couples situation.
When i bought my apartment a few years ago we were in a great position because the couple had already moved their family to florida, their kids were there with the grandparents they even sent all their furniture and belongings...the couple was living in the apartment with just a TV and a bed. I guess they didn't realize the process can sometimes take longer. OUr real estate agent was the one who told us listen you definitely can make a lower offer and he even suggested to us how much lower to go and they did take it.
I've heard things that you shouldn't buy a house until you've sold your own b/c you don't want to be in that situation. Of course everyone has different reasons for moving. My cousins lived in northwest NJ and he got a new job in Florida so they had to move regardless. They had put a lot of work into the home and wanted their asking price but no one was willing to pay that much for is so it ended up being much less. They were paying 2 mortgages so you have to do something at that point.
