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How much can you expect a seller to reduce from original price in a hot market , house 90 DOM?

  • June 22 2013 - Indianapolis
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Answers (3)

It will depend on how motivated the seller is, if you would be paying cash or need financing and if the property was listed at a fair market price/overpriced/underpriced. 

  • June 22 2013
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There is no set answer to this question. It all depends. The house may have been priced correctly from the start and may not reduce in price ever! 90 days may be a short interval for that market or it may be average or it may be a long time.Sometimes, that has no bearing on the price. If it's overpriced to start with, you may see some reduction in price at some point but there is no consistent rule of thumb to go by. If you're interested in the home - or any home, you should hire a buyer's agent. When you're ready to put in an offer, a good buyer agent will check what similar homes have sold for in the recent past to recommend a good offer price - it may be lower than the listed price or it may not be. Your buyer's agent will know the answer to that question and it will vary from house to house.
  • June 22 2013
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Profile picture for wetdawgs
In a hot market?  in many cases there is no reduction from asking price or even offers above asking price.   However, if a house has not had an offer for 90 days there may be an issue.

Please remember when evaluating what to offer, any request for seller concessions is a reduction in the seller's bottom line so is not a full price offer.
  • June 22 2013
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