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ckone
LIF Adult
Member since 8/06 3014 total posts
Name:
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What percent less than asking is appropriate?
Is offering $385K for a house where they are asking $419K appropriate. The house doesn't need a lot of work. It's an older kitchen and bathroom but not discusting.
Thoughts?
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Posted 1/4/07 11:33 AM  |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: What percent less than asking is appropriate?
you have nothing to loose. I've been told 10% is the average depending on the house and the condition
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| Posted 1/4/07 11:33 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: What percent less than asking is appropriate?
5-10% is good nowadays. I had an owner balk at an offer of 5% asking and he wouldn't negotiate with us.
ETA: It's really just dependent on the seller and if they have an attitude of what they want and won't budge or someone who is willing to negotiate.
Message edited 1/4/2007 11:36:04 AM.
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| Posted 1/4/07 11:35 AM |
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tabrtm
LIF Adult
Member since 10/06 1314 total posts
Name:
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Re: What percent less than asking is appropriate?
My condo was on the market for 265. I bid 240 and we settled on 255. It gave both of us some room.
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| Posted 1/4/07 11:36 AM |
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jellybean78
:)
Member since 8/06 13103 total posts
Name:
Mommy
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Re: What percent less than asking is appropriate?
Go for it. Seller is probably going to counter anyway so may as well start at a desirable point. Good Luck!
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| Posted 1/4/07 11:36 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: What percent less than asking is appropriate?
I think its fine. they will probably meet you somewhere half way.
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| Posted 1/4/07 11:41 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: What percent less than asking is appropriate?
we offered 14% less than the reduced asking price - settled on 7% less than asking.
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| Posted 1/4/07 11:57 AM |
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angnick
Life is So Wonderful!
Member since 8/06 6663 total posts
Name:
Angela
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Re: What percent less than asking is appropriate?
i think that is fine.
we at least go 10% below asking.
you can always come up!
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| Posted 1/4/07 12:29 PM |
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TheLorax
LOVE
Member since 2/06 5581 total posts
Name:
Suzanne / SuzBride
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Re: What percent less than asking is appropriate?
we offered 10% less - they countered - we offered again - they countered - we made our final offer and they accepted. We ended up a whopping 3% less than asking. Better than nothing I guess!
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| Posted 1/4/07 1:17 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: What percent less than asking is appropriate?
I think that's fine -- the worst they'll do is say no.
Everything varies a great deal by owner. Here's what happened with the four houses we bid on:
#1:
Asking: $399
Original bid: $350
Settled: $360
*we pulled out after the engineer's report*
#2
Asking: $385
Original bid: $375
Settled: $380
*First the seller put the sale on hold and then when she came up we were already in contract on another house*
#3
Asking: $400
Original bid: $375
*They never responded to us at all.*
#4 (my house!)
Asking: $399
Original bid: $385
Settled $395 (plus a $5K credit)
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| Posted 1/4/07 3:44 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: What percent less than asking is appropriate?
we will be offering 10% less on a house that we like in hopes to get it for somewhere around 5% less.
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| Posted 1/4/07 4:03 PM |
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