- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (7)
- Ryan Halset, "RyanHalset"
- Contributions:730
Susan Calkins,
Your post made me laugh...but felt you needed to be called out. Did you seriously just copy and paste my post, change a few words, and claim it as your own? Wow...I've seen similar answers here, but never quite to that extent :-)
I hope you're not doing this elsewhere on Zillow...
Your post made me laugh...but felt you needed to be called out. Did you seriously just copy and paste my post, change a few words, and claim it as your own? Wow...I've seen similar answers here, but never quite to that extent :-)
I hope you're not doing this elsewhere on Zillow...
- SteadyState
- Contributions:783
Get your hands on a good buy vs. rent calculator. Now look at rental ads and see the range of rents for comparable homes in the same area. If you put 20% down, your monthly payment should be within 3% of your rent and the buy/rent calculator should indicate that you are better buying than renting after you have owned the house for 7 years. (You can assume that your home appreciates at the same rate as your rent will increase.
- Susan Calkins, "Susan Calkins"
- Contributions:3
There are numerous factors in considering where to begin an offer, never a "rule of thumb"---wish it were that easy! Those factors will involve location, competition, current sales in that location, assessed value, condition, seller and buyer motivation, etc. The most important first step is to meet and consult with a Realtor who can educate you about the market of their expertise and explain the various negotiating strategies that will relate to the particular property you want to pursue.
Good luck - and feel free to email me with further questions!
Good luck - and feel free to email me with further questions!
- jean214
- Contributions:36
Think in terms of percentages below the asking price, not dollars. Depending on how long the place has been on the market, I would start at 10% below asking, more if it has been for sale 60+ days.
jean214
jean214
- Ryan Halset, "RyanHalset"
- Contributions:730
No, there is not one singular rule of thumb.
It depends on several items including, but not limited to:
- The local market trends in your area
- The condition of the house
- The location of the property
- The abundance of similar properties in the area
- The price range of the home you are looking at
- What other similar homes have sold for
- The absorption rate in your area
- The motivation of the seller
- Your motivation to buy
- Your finances
- What items you are negotiating into the sale
- The negotiation ability of the listing & buyers agent (understanding how to negotiate other concessions, inspection responses, mortgage rate buy-downs, and an understanding of the different points of negotiation throughout the sales process are all valuable when choosing an agent)
The very best person to discuss this with is a local real estate expert in your area. There is always a balance between getting what you want, and convincing the seller to give it to you. Your Realtor should be able to show you how to negotiate the most out of a sale - and show you which negotiable items may be most beneficial to you in your unique scenario (and they may be items that you weren't aware of).
Good luck - and feel free to email with further questions!
It depends on several items including, but not limited to:
- The local market trends in your area
- The condition of the house
- The location of the property
- The abundance of similar properties in the area
- The price range of the home you are looking at
- What other similar homes have sold for
- The absorption rate in your area
- The motivation of the seller
- Your motivation to buy
- Your finances
- What items you are negotiating into the sale
- The negotiation ability of the listing & buyers agent (understanding how to negotiate other concessions, inspection responses, mortgage rate buy-downs, and an understanding of the different points of negotiation throughout the sales process are all valuable when choosing an agent)
The very best person to discuss this with is a local real estate expert in your area. There is always a balance between getting what you want, and convincing the seller to give it to you. Your Realtor should be able to show you how to negotiate the most out of a sale - and show you which negotiable items may be most beneficial to you in your unique scenario (and they may be items that you weren't aware of).
Good luck - and feel free to email with further questions!
- Kari Wisenbaker, "Kari W"
- Contributions:102
Hello,
I am assuming from your question that you are the Buyer. I would recommend working with an agent who is familiar with your area - to help you with some statistics in the neighborhood and price range that you are considering. This will help you determine the range of what might be considered a 'reasonable' offer - or what may be more of a 'low ball'. Neighborhood stats are very helpful to give you an idea of what Buyers and Sellers in the area are doing - but remember that each scenario is different, and looking at comparable properties is always the best way to determine the market value.
Good luck,
Kari
I am assuming from your question that you are the Buyer. I would recommend working with an agent who is familiar with your area - to help you with some statistics in the neighborhood and price range that you are considering. This will help you determine the range of what might be considered a 'reasonable' offer - or what may be more of a 'low ball'. Neighborhood stats are very helpful to give you an idea of what Buyers and Sellers in the area are doing - but remember that each scenario is different, and looking at comparable properties is always the best way to determine the market value.
Good luck,
Kari
- broker_GRI
- Contributions:3454
Can you elaborate?
Are you working with a real estate agent?
Are you buying your first home or an investment?
If you have time and patience you will have more room for negotiating price.
Unfortunately (or fortunately depending on whether your the buyer or seller:-) if you "fall in love" with a "home" your bargaining power decreases...drastically.
Are you working with a real estate agent?
Are you buying your first home or an investment?
If you have time and patience you will have more room for negotiating price.
Unfortunately (or fortunately depending on whether your the buyer or seller:-) if you "fall in love" with a "home" your bargaining power decreases...drastically.
At what price should you start negotiating a house. Is there a rule of thumb?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.