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CHOCOLATE L | What is the % the you take off of a asking selling price of a home when making an offer to buy? |
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Krishna
|
Start with 40% off and dont go any lesser than 20%. |
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sacharose
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Offer what ever you are willing to pay for the home, within reason of course. The other party will counter with a different price and you just go back and forth until you both agree. Best to start low, you can always go up, but never down. |
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ANIL K
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It purely depends upon the condition of the house.At some times even 0%. |
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Reaper King
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What you need here is an appraisal. since you may not be willing to pony up the 3-4 hundred dollars for one, you can go here instead;
http://www.bankofamerica.com/loansandhomes/index.cfm?template=hc_home_worth&step=get_and_display_form&app=OMA&state=NC
or zillow.com
these sites you will show what houses in that area are being bought/sold for and this will give you a nice range of figures to play with when it comes time to make a bid. I've seen houses listed for 250k and wind up getting sold for 175k. depends on area, value, land etc. the websites above will factor all that in for you and give you ballpark ranges of houses prices in that area of yours. |
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spot
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Depends on how much they are asking for and if they are represented by a broker. For sale by owner house tends to ask for too much. Also get the sold price in the area within the last few months, divide that by the square footage of the house and you get price per sq foot of the house recently sold. Multiply that by the sq foot of the house you are thinking about, that will be the most likely market price. You want to offer 5-20% (or more) less than that price. The longer the house has been on the market, and more undesirable features the house has (like busy street, small lot, old house, dark room, etc.) the less price you can offer. Also if the price has been reduced since the listing, you can take a chance and offer a very very low price and see what they will come back with. Unless it's a sale by owner house, I suggest you find a Realtor. Otherwise, you will end up working with the seller's agent and it won't do you any good. |
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bostonianinmo
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There is no standard rule. In a very hot market, buyers may offer MORE than the selling price.
You should offer whatever you feel the property is worth. If your offer is way too low (such as the 40% one poster recommended) you many not even get a counter offer.
Ideally you should as your agent to pull some comps for the area and work out a price. It that's close to the asking price and homes are selling quickly you probably won't get much of a discount. If homes are selling slowly or if values are retreating you are in a much better position to make a low-ball offer. |
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Mike
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There is no set percentage. You make an offer that you feel is reasonable for the property. Take into account it's features, condition, size, location and what other similar homes in the area have recently sold for. |
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Alterfemego
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There is not set % as you ask. If you're using a Realtor, ask for them to provide a market analysis of what homes in the area have sold for. If you're not using a Realtor, it makes it difficult to obtain that information. |
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tadopoly@sbcglobal.net
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This truly depends on the how accurately the house is listed, how many offers are expected, and what area you live in.
A general rule of thumb has been 3-5% in many areas but not if the home is listed close to value. Many homes are still selling for over list price. You don't want to waste your time writing an offer that won't work out. Look at the comparable sales and listings and make a good solid offer that best represent the property value and you should have the best success.
Regards,
Steve Larson
http://www.slarson.com |
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head_banger_yyc
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well, offer something near what your willing to pay. depends on the market, in a hot market a low offer will get no consideration. I recently lost a house that was on the market for 2 days that I offered full list price on, because another offer came in higher. in a slow market there is more wiggle room. |
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curmudgeon
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There is no rule, but try 10% less. |
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Wite Out
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I dont know...but you should start with 30% |
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jstrain5676@sbcglobal.net
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10-15% |
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