Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Original post by Teri
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
Thanks!
LizD
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Suzanne that is too funny. When we bought the house in Merrick, we saw it and bid on Saturday and they were having an open house on Sunday. I sent my sister in the afternoon to check the sheet
Teri, definetly use as many agents as you can. Also, you can look on the various real estate companies web sites. They all have an 'exclusively ours' section.
BTW - We paid about 7K less than asking.
HeatherandNick
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
we were dealing with RE agent who would e-mail me with potential houses daily. When she sent us 'The House' it was from mlsli. We made an appt to go see it. It had been on the market for jut over a month. The seller had already lowered the price by 20K.We put the bid in for 24K less then the current lower asking price. The seller said they really liked us and we negotiated at only 5K more then our bid. So we ultimately got it for 39K less then their original asking price.
HTH
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
heather - that's great! $39K less is an awesome deal IMO. You just closed recently too, right? I think even in the area we're looking too!
HeatherandNick
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
we haven't closed yet. We are waiting on the title and appraisal out EDD for closing is March 20th.
The 39K includes the 20K the seller had brought it down to by the time we looked at it.
Where are you looking? This house is in Seaford. South of Merrick Rd, by the canals.
Crisco718
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
We bid about 6% less than the asking price and the bid was not accepted. We eventually got it around 3% less than asking. There are a lot of factors in making this decision. We decided to up our bid because the house is only 15 years old and has a new kitchen. The owners have also redone all of the hardwood floors. If it needed any work, I would have bid lower and not budged.
OctBride03
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
I'm not sure what the % was, but we bid $5k less. We really did not want to lose the house. Most people say to bid the lowest and then with counter-offers you end up paying less anyway, but we just didn't want to chance it. We did 5k less and they accepted.
WOW I just read this entire thread!!! DH and I were silly! Why didn't we go lower??? Hmmm... I feel like we got screwed! Oh well, the things you learn right?
jennyg
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
I agree that you have to figure out what you think its worth and what you'd be willing to pay. We bid $65k less than asking, and while I was almost embarrased to give an offer that low, (this was FSBO, no RE agent involved) I felt this was the highest we were willing to pay. Turns out that a month later her original deal fell through and she accepted our first offer. You definitely have more flexibility when its FSBO though, since they don't have to pay anyone commission and are pocketing all the $$. You don't want to feel like you got ripped off just b/c everyone else out there is willing to pay a ridiculous price for a piece of cr*p house!!
Sage10.03
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
WOW! All of this information is so helpful....we bid 17K less than asking and we haven't heard back yet (granted this was only last night)....but I am glad to hear that we were somewhere in the normal range...lol!
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Sage, yes, I'm glad to get this info! It makes me a feel a bit better that no longer are bidding wars and such the norm, at least around here
Thanks again everyone for responding
dcwife
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
What about the asking price vs. the reassessment value. I looked up a house we are intersted in on mynassauporperty.com and it is listed 100K less than what they are asking- is that something we should take into consideration. I know the values on the reassessment are a lot of b-s- but 100K seems like a big deifference.
Suzanne
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
I was told once by the town supervisor that you should NEVER pay more than 100K over the asking price. And that only if the house is in PEAK condition.
Teri
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
Posted by Suzanne
I was told once by the town supervisor that you should NEVER pay more than 100K over the asking price. And that only if the house is in PEAK condition.
I believe dcwife meant it was $100K over the assessment price - not asking price....right?
To be honest, most of the houses we've seen are over the 2004 assessment, but not by that much - maybe $30-50K.
dcwife
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Re: Recent homebuyers: What percentage less, if any, from asking price did you bid for your house?
