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how much less do buyers offer off the listing price

  • November 10 2010 - West Price HIll
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Answers (6)

Best Answer

I get this question a lot. 

There is no set amount or percentage to deduct when making an offer.   Your offer should be based on what the home is worth to you and the market value.  Only you know what the home is worth to you and your Realtor can do a CMA (Comparative Market Analysis) to give you an approximate market value.

I personally have offered the list price when warranted, but I have also offered much less on other homes. 

I assume you are asking as a seller since you are asking in the selling section.  I price my listings at market price and usually the seller will want to "add on for negotiating room".  I recommend against this unless good comps were difficult to find, meaning there is a little more educated guesswork in determining market value.  As a result, 25% of my listings in the last year have sold at or above listing price.  Many of the overpriced homes in the same area are not yet sold.

If homes are overpriced, I feel they eventually sell below what they would have if priced right from the start.  Your neighborhood is one that I work in and the majority of  homes usually sell between 95%-100% of the current list price, but I have see as low as 50% and as high as 105%.  I say current list price because many have had one or more price reductions.  Generally the longer the days on the market the lower the price compared to the original listing price.
  • November 10 2010
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All the answers are correct but it comes down how much a buyer is willing to pay for your home!!  Good Luck
  • November 12 2010
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I agree with Jim, If the home is listed properly you are not going to get a 50% discount.  It is usally a foresale by owner property that becomes a huge discount once the owner sees comparable sales in the area.  I closed a foresale by owner property were the appraisal came in $25,000 below purchase contract price. Boy was the seller pissed. With out an agent telling him what his place was actually worth, he had no clue.
  • November 10 2010
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The most important point here is the comparables around the house. It will depend on the listing price in comparison to the homes value. If the home is priced well, you can expect to get stronger and higer offers since buyers will not want to lose on a good deal. If the home is over-priced or needs some work and has being sitting on the market, buyers can offer substantially less than the listed price. However, there are still buyers in the marketplace that are in no hurry to buy and will go around making low offers on mulitple properties. The more aggressive you are on your offer, the better your offer will be and the sooner you will get new home..
Any questions call me.... I can help!!!!
  • November 10 2010
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Profile picture for the_country_hick
What the house is listed for does not matter. It could be priced to high (or low) by $100,000. If it is priced lower than its value maybe it makes more sense to not negotiate much. If the house is overpriced by $100,000 taking $50,000 off still means you are paying to much.

Thus have your agent run a cma (including foreclosures and short sales) to figure out about what the house is worth. Offer that amount at a maximum and preferably less.

I just saw a house for sale that went from $275k to $225k a drop of $50,000. You never know what a seller will accept until you try. If you only thought you could take off $15k from the asking price you would have overpaid by at least $35k.
  • November 10 2010
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Profile picture for JarydRuffner
It usually depends on the list price in comparison to the homes value. If the home is priced well, you can expect to get stronger offer since buyers won't want to lose the house to a competing buyer. It the home is over-priced or needs some work, expect buyers to offer substantially less than list price. However, there are still buyers in the marketplace that are in no hurry to buy and will go around making low offers on mulitple properies. The more aggressive you are on list price, the better your offers should be though.
  • November 10 2010
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