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Full offer or negotiate

Do people usually go in with a full offer these days, or do they try to negotiate?
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August 26 2010 - Nashville
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Answers (24)

How bad do you want the property typically defines the offer you make. Do seller's expect to negotiate? Yes. Could you save some money? Probably. But the questions these days that trumps all others, unless this is a cash deal, is, "Will the home appraise for the agreed upon sales price?". This is where have a good buyer's REALTOR really pays off. Knowing the pulse of the market, and what the right price range for a property is, is the deal. By just making a full price offer, you are relying solely on a Seller or Seller's agent to determine the price. The thing to remember here is that the Seller's agent has no duty of loyalty to you at all. Their job is to get the maximum possible benefit for their seller. Protect your interests, and contact a local REALTOR.
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February 09 2011
Full price offers are rare!

Most buyers want to negotiate.
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February 09 2011
I almost always recommend negotiating, but it really depends on the location and several other factors.  I recommend selecting an experienced REALTOR and have them do a search to see what the curret market value of the home is. Then you can go from there.

Melissa Smith
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February 07 2011
Location, Location, Location...right these are the most important factors about real estate.  Depending on location, which determines inventory levels, which determines demand for the product you are looking at should determine your strategy.  In my market, Fort Myers, FL, one of the epicenters of foreclosures, 99% of REO's(bank owned real estate) are sold for over 100% of listing prices and they are off the market in under 30 days; so negotiating would mean a lot of missed opportunities.  Short sales tend to be sold at or near listed price, sometimes higher if an agent "listed" below market to get buyers biting.  In the end unfortunately a realtor will be the only one who can advise you as to the best strategy given your needs/wants/time line.  The realtor has "perfect" information, or as close to perfect as you get, anyone else truly can't get access to the same quality of info out there as a realtor can. 
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December 06 2010

Foreclosures and sometimes short sales may be priced aggressively enough to warrant a full price offer, In most cases the seller expects to negotiate, and prices their home expecting some negotiation. The amount of negotiation depends on the pricing history of the community and the condition on the property. An experienced buyers agent will save you a lot of money.

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December 06 2010
If you are working with an experienced agent who understands the comparable properties in the area you will have a better understanding of what you should offer. Even in this buyers market in some areas you are seeing multiple offers on well priced properties. You should be taking all the variables that make this house the right one for you and your family into consideration. Ask your self or your agent a lot of questions, have the correct inspections and make sure your financing is in order. If you want to negotiate be ready to commit!
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November 29 2010
Profile picture for ycnim
Thanks!  Interesting to see all the different thoughts!  Love all the insight.
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November 29 2010
Profile picture for jadedea
full price???? even if the house had a price for $1 you best believe im rolling in seriously with a $0.15 offer. if the full price is within my budget and there are multiple (legit offers) i would offer full price. if its out of my range i may go a little higher than my safe zone and go from there. so far one seller is stingy and wont take my price, the other house i got outbid, and my agent is inquiring with the seller agent about how eager they are to sell. i am hoping, since the property is next to a cemetary, that the place is haunted and is eager to move *giggle*

oh and to add, i negotiated my rent price. so negotiating isnt just for selling/buying, its also for renting!
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November 29 2010
Be aggressive.  There are lots of properties to choose from.  Look for distressed inventory: bank owned, estate sales, vacant and 200+ days on the market, out of state owners (paying two mortgages?).  Offer 20% to 50% off of list price, depending on the strength of your offer (all cash?  skip the inspection?  no contingencies?).  If they won't counter, move on, try another seller.  Plan to take your time, make lots of offers, get yourself a good deal.
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November 28 2010
If you are asking if sellers usually take a full price offer or negotiate, sellers will almost always take a full price offer and accept immediately. If you are asking about buyers, I have only recommended a full price offer twice in the past 18 months (both were for foreclosures).
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November 28 2010
Profile picture for the_country_hick
Connie, "attempting to negotiate might give someone else time to grab it."

Isn't that the kind of thinking that created the bubble? Buy now and offer as much as possible before someone else buys it? If that way of thinking failed us then why should it be followed now?

Houses are interchangeable. No one house is anything special that can not be duplicated elsewhere exactly. Thus making a reasonable offer and negotiating the price lower only makes sense. Anyone who feels afraid to negotiate on the price of a house or car is only going to overpay for it.

If by negotiating on the price of a house causes that house to be lost to a different buyer that is fine. Another house was meant to be the one you buy anyway. Being in a hurry to buy often causes us to act rashly before we consider what we should really be doing. Taking time to think, consider, and make a reasoned reply is the best strategy to follow. There are always more houses out there to choose from.
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November 16 2010
I always reccommend negotiating- but you do have to look at all the factors.  If the house was just put on the market and is already priced to sell quickly and it's the one you want, attempting to negotiate might give someone else time to grab it.  Ask your realtor for a comparative analysis of the price of the home or do it yourself by looking at sold houses and listed houses.   someone else already said "it depends"  it really does.  It comes down to assessing the situation and reacting.Your Realtor should be able to provide you with information that will help you decide. (it should ALWAYS be your decision not the Realtor's- you're the one living in it and making the payment)
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November 16 2010
Houses are unique, homeowner needs are unique as well, so everything rely on wheter you are really motivated or not. If you negotiate you gamble, it means that you can either get a discount or loose the opportunity to buy the property, is like poker, you can bluff sometimes wins sometimes looses...
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November 16 2010
Profile picture for SteadyState
LMAO with Realty Choice's advice. Offer more for the house because some phantom buyer may bid too high for the property. How scary! Perfect example of saleman's attempt to sow "Fear, uncertainty and doubt". Ask the agent that the difference in price between what you are willing to pay and what the agent wishes you to pay comes from his/her commission.
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November 16 2010

always negotiate.

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November 15 2010
Lots of factors come into play when you decide to negotiate, but what it boils down to is that have you found the perfect home for the perfect price? If so a negotiation could cost you the home if another buyer shows up who is willing to pay more.
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August 29 2010
Have your agent do an indepth market analysis then base your offer on the facts.
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August 28 2010

If you're dealing with the listing agent, do yourself a favor, and go get a Buy Side Broker. The listing agent is working for the Sellers (or should be)
NEGOTIATE- It's a Buyer's market.

In order to negotiate effectively you need an agent who can sit down with you and show you what similar houses in the area have sold for in the past 90-180 days so that you can compare actual recent sales to the asking price of the property you are considering.

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August 28 2010
Always negotiate........you always want the best value for the money. That being said.....depening on a few factors..you may end up paying close or full list price. 
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August 26 2010
The easiest way will be for you to find a buyer agent who would run comps for you and assist you with the offer.  You do not say if the offer is for short sale, foreclosed property or a conventional sale and you will be dealing with the sellers directly.  It all depends on who owns the property and reason for the sale, as well as the comps.  let the professionals guide you this market is too complicated at the moment.  Anyhow....if you need to negotiate wouldn't you rather have a professional on your corner? 
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August 26 2010
As everyone has said. Run the numbers... Is it a competitive list price? Are there other offers on the table? I recently sold one in East Nashville for substantially OVER list price. But the list price was crazy-low and there were other offers.

Also, sometimes it is hard to get a discount on new construction homes. Right now often developers advertise a low, low base price, but charge for add-on upgrades like hardwoods and such.

Your buyer's agent should be able to advise you on the protocol for the situation. Do you have a Buyer's Representative?
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August 26 2010
Unless this is a "real deal" with multiple offers, always negotiate. The worst the seller can do is say no, but I'll bet they will lower the price.

Eve in Orlando
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August 26 2010
If I'm representing the buyer, I always recommend negotiating.  Not much in my area is going for asking price.  I think most sellers build in a little negotiating room anyway.
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August 26 2010
Profile picture for wetdawgs
The first thing they do is to compare the asking price to comps that have sold in the last two or three months, then figure out if the place is priced competitively, over priced, or a super bargain.   As this varies so much, the only answer is "it depends".

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August 26 2010
 
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