SnickNNick
In our new house!!
Member since 8/08 2119 total posts
Name:
Nicole
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Re: starting offer
I think it really depends on a lot, like if the price has been lowered at all, what the comps are, etc. I don't think there's a hard and fast rule...do you know anything about what the seller's bottom might be? how desperate they are? if they owe a lot on the house?
In our case the price had been lowered twice, once 2 days before we made our offer. Original price was $369,900, had been $345,900, finally lowered to $329,900. We offered $310,000, they countered with $320,000 which we accepted. So our offer was about 6% below the final asking price, but about 10% below what the price had been 2 days earlier, and about 15% below the original price....basically we knew that their bottom was around $320,000--while they lowered the price, they didn't really lower the bottom amount they were looking for.
Sorry so long! I think the general rule is about 10% but just wanted to point out that it varies a lot by situation!
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Kidsaplenty
Sister love
Member since 2/06 5971 total posts
Name:
Stephanie
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Re: starting offer
If you think its overpriced offer what you think is fair. Some of our friends have gotten houses at 20% off asking, so its always worth a shot.
We offered 15% off on a short sale and are waiting to hear back. The sellers accepted it, now its up to the bank.
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