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BabyAvocado
Happy New Year
Member since 5/05 17334 total posts
Name:
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Poll: How much below asking?
Sorry if a poll like this has already been done...
How much below asking did you pay for your home if you purchased within the last 3 yrs?
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Posted 5/26/06 10:39 PM  |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Re: Poll: How much below asking?
We had negotiated to 10,000 below asking but at the last minute another person put a bid in so we went to $500 above asking and got our house. However, originally the house was put on the market for $20,000 more than we paid for it. The seller had just reduced the price the week we put our bid in. (This was in September 2005).
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| Posted 5/26/06 10:55 PM |
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jaysee00
LIF Adult
Member since 3/06 1647 total posts
Name:
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Re: Poll: How much below asking?
We bid 10K below asking and we ended up getting it for 8K below asking. Looking back I think we should have bid lower. We jumped quick at the 8K below.
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| Posted 5/26/06 11:03 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Poll: How much below asking?
We bid asking price. The market was hot and you had to put an offer in practically before you left the house. We loved it and didn't want to mess around.
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| Posted 5/26/06 11:49 PM |
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MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
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Re: Poll: How much below asking?
We also offered asking price. The house was just reduced 20,000 and it was at an open house. We really feel in love with the house and didn't want to lose it.
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| Posted 5/27/06 6:52 AM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Poll: How much below asking?
Posted by BabyAvocado
Sorry if a poll like this has already been done...
How much below asking did you pay for your home if you purchased within the last 3 yrs?
This is a difficult question to answer because it entirely depends on the house, location, condition, etc.
We asked for WAY under and this was at the height of the market last summer after she already reduced the price by 60K. But the house was an absolute disaster and gross. It had aluminum wiring (5K to rewire whole house), needed a new oil burner and tank right away (about 10K) and the appliances in the kitchen were AS IS... that means you have to gut the kitchen. Before we knew all of that we put in a bid of 20-30K less than asking but what was more impotant to the seller (she already bought a townhouse in NJ and was getting desperate) was no contingency contract (and we had a house to sell but we knew it would sell quickly) and 40% down at closing (because we had the equity from our current house). Those other terms made our deal a lot more secure and attractive to a seller. As a seller myself, that's what we were looking for as well either a cash deal or 20% or more down... a lot of deals fall through due to financing so you want the seller to know you are serious and have the resources.
So I'd say:
1. Try to find out the seller's situation. Have they already bought another property? Out of state?
2. Make a lower offer but with more money down at contract and closing with no contingencies. Of course, then you run the risk of carrying two mortgages if you haven't sold your house yet.
Good luck.
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| Posted 5/27/06 7:23 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Poll: How much below asking?
We bid 10k under and it was accepted. But this was last summer, when it was more of a seller's market. Plus our seller didn't use a realtor.
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| Posted 5/27/06 7:28 AM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Poll: How much below asking?
We bought my parents house so it was the asking price-lol!! No negotiating there!
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| Posted 5/27/06 10:06 AM |
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kaklesmay
Love my baby boy!
Member since 9/05 1151 total posts
Name:
Kim
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Re: Poll: How much below asking?
Offered $20k below, got it for $14k below
(They had an offer of $5k below but it had a realtor and we didnt  )
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| Posted 5/27/06 11:45 AM |
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danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
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Re: Poll: How much below asking?
$10k over summer 05
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| Posted 5/27/06 1:01 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: Poll: How much below asking?
We originally paid over asking price by $2000 but then after the inspection we found out that they had lied to us about a few things--we got them to lower the purchase price to $2000 below plus they put in a new electrical system which cost $2000
We signed contracts in Feb 2006 & closed on april 5th
Message edited 5/27/2006 1:07:24 PM.
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| Posted 5/27/06 1:06 PM |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: Poll: How much below asking?
We closed 3 1/2 years ago, but paid 6K over asking. Our house was a FSBO and was priced just *slightly* under fair market value, IMO. The sellers realized this about 3 weeks before closing and tried to rescind. Not. 
In today's market, homes are selling below asking price. Frankly, the market is saturated and there are too many sellers who are overpriced because they think their house is the "best" one out there. Yet it sits for months. 
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| Posted 5/27/06 2:50 PM |
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Re: Poll: How much below asking?
We paid 19k below original asking price.
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| Posted 5/30/06 11:43 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Poll: How much below asking?
We paid 30k below asking price in 2005
Message edited 5/30/2006 12:05:54 PM.
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| Posted 5/30/06 12:00 PM |
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Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name:
God, bless & heal my DH, JenG's DH Rob & DebG
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Re: Poll: How much below asking?
Posted by LSP2005
We had negotiated to 10,000 below asking but at the last minute another person put a bid in so we went to $500 above asking and got our house. However, originally the house was put on the market for $20,000 more than we paid for it. The seller had just reduced the price the week we put our bid in. (This was in September 2005).
This was our exact situation. Except that we went $100 over asking and got it.
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| Posted 5/30/06 12:11 PM |
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ODonnell
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Member since 9/05 5983 total posts
Name:
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Re: Poll: How much below asking?
The seller had just reduced the asking price 2 days before we put in our offer. It was their 2nd decrease and the house was on the market over 6 months. We ended up getting it for $44,000 less than the original asking price. This was March 2005 when every other house we bid on was going for over asking (which I refused to do).
Message edited 5/30/2006 12:18:23 PM.
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| Posted 5/30/06 12:17 PM |
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Bebalina
<3
Member since 6/05 2922 total posts
Name:
N
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Re: Poll: How much below asking?
25k
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| Posted 5/30/06 12:27 PM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Poll: How much below asking?
We offered $20k below asking and agreed on $13k below.
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| Posted 5/30/06 12:27 PM |
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-Lisa-
---------------
Member since 5/05 6530 total posts
Name:
Lisa
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Re: Poll: How much below asking?
we offered 39K below the original asking price, but by the time we made the offer the price had dropped $10K and there were rumors of another $10K drop.
So we wound up at $34K under original asking, and $24K under the current price at the time of the offer.
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| Posted 5/30/06 1:54 PM |
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MrsS1126
MY FOREVER
Member since 1/06 1671 total posts
Name:
Jackie
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Re: Poll: How much below asking?
We paid $6000 less than the asking price.
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| Posted 5/30/06 3:10 PM |
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MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name:
Christian
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Re: Poll: How much below asking?
Aug 05-northern VA-asking price
sold a home in Feb 06- same area -for 10K over
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| Posted 5/30/06 3:18 PM |
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lucyloo
nope
Member since 1/06 9758 total posts
Name:
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Re: Poll: How much below asking?
15k below
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| Posted 5/30/06 9:29 PM |
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sweetpea0717
LIF Toddler
Member since 5/05 386 total posts
Name:
Trish
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Re: Poll: How much below asking?
We offered 20k below asking price in Summer '04. They accepted without hesitation
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| Posted 5/31/06 9:00 AM |
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2PreciousBlessings
The Perfect Pair
Member since 5/06 19861 total posts
Name:
Best Wife & Mommy
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Re: Poll: How much below asking?
We offered $10k below.
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| Posted 5/31/06 9:00 AM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: Poll: How much below asking?
we offered $59K less the original asking, but it had dropped $40K. We settled on $5K off the final asking price; which was $44K off the original asking
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| Posted 6/3/06 10:53 PM |
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