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How low did you bid?

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Disneygirl
Disney cruise bound!

Member since 5/05

8126 total posts

Name:
D

How low did you bid?

How much lower from asking price did you bid on a house? Do you bid lower than you are willing to spend to leave room for negotiations?

Posted 6/27/05 4:32 PM
 
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~Colleen~
my loves...

Member since 5/05

9129 total posts

Name:
guess

Re: How low did you bid?

It depended on the house...we put in 4 bids so far ranging from 10% - 2% below asking.

Aside from your finances, you have to factor in what other houses are going for, if this house is priced over or under market, etc...

Good luck!

Posted 6/27/05 5:10 PM
 

Disneygirl
Disney cruise bound!

Member since 5/05

8126 total posts

Name:
D

Re: How low did you bid?

The reason I'm asking, we saw a house awhile back which we liked but it was over our budget. I just looked it up last night and the price has been reduced by $10K. It is reasonable to assume that the house is overpriced? If we were to bid on the house we would probably bid 10-12% below the new asking price. It's a great house but could use a little work.

Posted 6/27/05 5:14 PM
 

~Colleen~
my loves...

Member since 5/05

9129 total posts

Name:
guess

Re: How low did you bid?

To you, the buyer, it's reasonable to assume that it's overpriced.......to the seller, it's a different story. However, they came down $10 - which is probably, what, 1-2% below asking? 10-12% below is probably a stretch since houses *typically* go for no more than 5% below asking...HOWEVER...

...sounds like the house has been listed for a while and now they're probably getting itchy. Honeslty, it doesn't hurt to lowball - worst case, is they don't accept...somewhere in between would be that they counter you. You just need to figure out what the house is worth to you and how high you're willing to go to get it. Obviously best case would be that they accept it!

Best of luck to you!!

Posted 6/27/05 5:33 PM
 

sasha96
lovin' my 2 little ladies!

Member since 5/05

7401 total posts

Name:
Julianne

Re: How low did you bid?

Posted by Colleen9304

To you, the buyer, it's reasonable to assume that it's overpriced.......to the seller, it's a different story. However, they came down $10 - which is probably, what, 1-2% below asking? 10-12% below is probably a stretch since houses *typically* go for no more than 5% below asking...HOWEVER...

...sounds like the house has been listed for a while and now they're probably getting itchy. Honeslty, it doesn't hurt to lowball - worst case, is they don't accept...somewhere in between would be that they counter you. You just need to figure out what the house is worth to you and how high you're willing to go to get it. Obviously best case would be that they accept it!

Best of luck to you!!



well said! good luck with the house!

Posted 6/27/05 6:44 PM
 
 

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