For all of you who already own a home

Mrs. dleeny Posted: Jan 23, 2006 08:33 PM

For all of you who already own a home

when you submitted your offer to buy, what percentage below asking price did you submit?

coxmandi Posted: Jan 23, 2006 09:12 PM

Re: For all of you who already own a home

I live in VA and bought when the market was nuts. We offered asking plus an escalation clause for above asking.

KimberlyBride Posted: Jan 23, 2006 09:37 PM

Re: For all of you who already own a home

We knew we wanted it and after seeing 50+ houses I wasn't prepared to lose this one so we bid asking and it was accepted that day.

Mrs. dleeny Posted: Jan 24, 2006 09:04 AM

Re: For all of you who already own a home

thanks for your answers... keep 'em coming.

TIA

Blu-ize Posted: Jan 24, 2006 09:21 AM

Re: For all of you who already own a home

We bought when the market was nuts and there were 10 people bidding on the same house. Houses were going for above ask!

We bid ask on our home and got it. There were two others who bid ask as well, the owners liked us, our credit was good and they felt we were the stronger buyers based on our pre-approval.

In this market, I would not be afraid to bid a little lower than ask, however, I would not do that if I thought the house was priced right and I really didn't want to lose it.

Also, it's relative to how much traffic the house gets and how quickly they want to sell.

HTH!

FallBride05 Posted: Jan 24, 2006 10:11 AM

Re: For all of you who already own a home

We thought there'd be a bidding war on the house we bought, but took a risk and actually put our bid in for 15k less than they were asking. The countered and upped our bid by 5k. We accepted.

Turns out we were the first to bid, and they were in a rush to find a buyer because they were already in contract review for their new house.

So in the end, we got the house for 10k less than the asking price.

dita531 Posted: Jan 24, 2006 11:44 AM

Re: For all of you who already own a home

Listed at 400 got it for 385.

bluesashbride Posted: Jan 24, 2006 12:38 PM

Re: For all of you who already own a home

asking price but they were motivated to sell so it was slightly priced under.

lrs2005 Posted: Jan 24, 2006 01:30 PM

Re: For all of you who already own a home

we had settled on 10,000 less then asking price, but at the last hour someone else came in with another offer, we figured it was asking price, so we offered 1000 more than what ever the other offer was (we were right they had offered asking) so we ended up paying 1000 more than asking on paper, but with all the things we got back at the closing we paid 200 more than the asking price. We closed in October 2005.
For us we had to be here by 12/15/05 b/c DHs job was transfered out of state and we would have lost our 5.125% mortgage lock in and the rates were climbing at that point. And here the rates are now 6.75% so we did relatively well.

lrs2005 Posted: Jan 24, 2006 01:32 PM

Re: For all of you who already own a home

When we made our initial offer we offered 8% less than asking or almost 28,000 less than the price of the home.

MCDO15 Posted: Jan 24, 2006 03:54 PM

Re: For all of you who already own a home

Posted by KimberlyBride

We knew we wanted it and after seeing 50+ houses I wasn't prepared to lose this one so we bid asking and it was accepted that day.

the exact same story
but would of been 5% less had we wanted to

Preshy7 Posted: Jan 24, 2006 05:55 PM

Re: For all of you who already own a home

i was above the asking price

Hazeleyes33 Posted: Jan 25, 2006 04:11 PM

Re: For all of you who already own a home

We bought my parents house so I said 'asking price'-lol!! The weren't going to go under!!

mrsdtobee Posted: Jan 25, 2006 04:57 PM

Re: For all of you who already own a home

We also gave asking price. They were motivated to sell, and also they put in on the market for way under the value. Homes in neighborhood are going for between 30-60 more that what we paid!!