How to negotiate an offer that's 15% lower than the asking rpiceHave a home FSBO and received an offer (via buyers agent) 2 hours after the showing, but it's 15% lower than the asking price and 5% lower than price paid for property in 2006. Also asking for $4500 in closing costs and home warranty.Since then home has had upgraded baths,new roof and heat pump and lots of work in the yard. One of the lowest price properties in the desirable zipcode. House 2 doors away (same size,slightly younger but not as nice inside or out) sold in June for our asking price. Looking at the deed registry will show there's no mortgage on the property but parents who are owners remortgaged their home in their home country to purchase it and we feel, looking at comps, that the house is worth what they paid for it, and there's only 1 other house (a double wide) available on the market at anywhere close to our asking price. We don't want to alienate the prospective buyer - we expected to have to negotiate, and we know where we have to be $$$ wise. .Is it best to counter with our lowest price we can accept or go somewhere midway between our lowest price and their offer? We're about $7000 away from our lowest price. Also-the pre-approval letter the agent sent today is dated today(v (viewing was yesterday) and approves buyer for the offer price- but assuming that doesn't mean they couldn't get approved for more- it's just that that's what she's asked for at the moment? Also-if her closing costs are less than $4,500 we only pay what the actual costs are-correct? This seems like a lot for closing costs? October 25 2013 - Charlotte00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.