Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Teri
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Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
If you don't mind me asking, I'm wondering how much less than asking price the sellers are normally getting now for houses on LI....10% less? 20%? Did you bid asking price? Over asking price?
Please only answer if you feel comfortable. DH and I want to be very confident of our offer once we finally find our house
Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
teri...I cannot answer from experience this b/c I am not in NY...
but I think it depends on the house, price range and area...
my sister bid under %5 under on one house in e npt...they were accepted...but didn't go with it...and they bid full price on another in npt...
on the otherhand...my moms neighbor listed her house at $499 (sold sept or so 2003)...but it wasn't in that good of shape and I think it sold in the 425-430 area..
Sage10.03
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
I need the same info!!!!
We are in a situation now where we just made an offer and we hope we made it for enough.....
Suzanne
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
We bid 29K under the asking (the house is old and not updated and I felt they were asking WAY to much money) they didnt accept at first and then about a month later called and asked if we were still interested...
Also we didnt play games, we knew what we could afford and what we felt each house was worth, if we made a bid we made a realistic bid and stuck to it...
chmlengr
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Our first bid, we bid rather low - about 30K less. That was based on comp sales in our area over the past year. The RE Agent told us there was a higher bid (if there wasn't, we would never have known), and we didn't budge. Then we lost it, but bid again after the high bid backed out. We ended up getting the house for 16K less than asking price.
Kathy116
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
We bid asking price, only because we knew it was a steal, and ironically, the person who bid before us, then topped our bid and bid 20K ABOVE asking price.
Thank god we didn't get into the bidding war, our bid was accepted and we got it for asking price.
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Great info, thanks ladies!
Erica - I figure it really does vary from town to town, and condition of the house, etc., but just to get a ballpark would be good.
Like others said, I've seen so many that need at least $35K in work, so to ask some of the prices I've seen amaze me! Then I wonder how realistic it is that they're getting close to that amount.
I've also been reading up in Newsday's RE section which is helpful, but I'd love to see the asking price vs. sale price.
our RE gave us a few comps for one town but they don't offer that up too easily!!
Jenny5150
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Although our home purchase is not recent, we bid the asking price (knowing that we would have to throw over $20k into the house within the 1st 2 weeks). Turned out there was a couple before us who bid $20k less (we were the 2nd offer). The sellers were an elderly couple moving to assisted living, so I don't think they were looking to play games. They just wanted their money and the house was 'As Is'.
We underbid on a few homes and lost them all. We eventually got into bidding wars that were over the asking price and looking back, I'm glad we lost them. The homes/locations were totally not worth it. That Domania website is a really a great research tool!
Junebride
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
I bid $30,000 less than asking - and it was accepted. This was due to the fact that the home was overpriced and on the market for a long time. If a house is new on the market and priced right I doubt you can get it for much less than $10,000 below asking. However, again this depnds on if the house priced right.
MarcellaBella
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
We bid 30k less on ours.. the beauty of it was that when we did our final walk-through, the seller told us that the house across teh street (it was just a the lot across the street where a custom home has just been built (luckily it went into contract AFTER we closed) sold for 89 thousand dollars more than what we paid for our house! lol
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Posted by MarcellaBella
We bid 30k less on ours.. the beauty of it was that when we did our final walk-through, the seller told us that the house across teh street (it was just a the lot across the street where a custom home has just been built (luckily it went into contract AFTER we closed) sold for 89 thousand dollars more than what we paid for our house! lol
The $89K more than your price was JUST for the land?! Holy Sh*t!!
MarcellaBella
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
No, actually the lot and the custom house was together..
missmmpr
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
we asked 15 thousand less...then they came back with five thousand more so we paid 10 thousand less than asking price
februarybride
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Our first bid was 25k less than asking - they declined. We bid again for 10k less than asking and they said ok. We got ripped off - paid about 5k over what we should have but now looking at what the house prices are...we got a deal! LOL
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Posted by MarcellaBella
No, actually the lot and the custom house was together..
ahhh - I was going to say - what a huge increase
mlp924
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
We bid asking price because it was a steal for the canals and schools!
drjenn10
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
We bid $25K under the asking price for our home that we bought this past August.
Suzanne
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Another tip someone passed on to me.
We lost alot of houses when we were looking at multiple listings, because if a house came in in our price range ALL The RE's were all over it.. then ultimatly we would not get the house and I was sick of getting into bidding wars and loosing because we simply could not afford it and B the house wasnt worth it.. so a friend of ours said only look at exclusives, that way its only one agency showing the house and you dont have to be so worried with TONS of people coming to see it..
Another thing we did was, we bid on the house we wanted they didnt accept, then they called and asked if we were still interested I said yes, but the agent said they had one more open house that weekend.. So i sent my cousin in to the open house.. I sent her late in the day almost at the end, I wanted her to look at the sign in sheet and let me know how many people came to the open house.. Well she went and only 3 people showed all day..and she said 2 of them were there when she was there and 1 couple walked out right away.. So basically if the agent started to give me crap about oh the open house generated more interest and you need to up your price I would know he was lying...
Ok sorry I rambled.. I hope some of this helped you..
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
wow - Suzanne that's a great idea about the sign in sheet! It's so important to be educated in your decisions and KNOW what you're talking about!!!
We are working with about 3 different agents so they do call us when houses come on the market that aren't on MLS, but it's not too often....maybe once every 2 weeks or so.
Maybe I should just start calling a few more RE agents and see what they have.
Niecey
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
I think a lot of factors weigh in this decision but DH and I went in about 10% less the asking price. We got it for about 7%.
