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Reasonable Bid |
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What is a reasonable bid when buying a house that is listed at $150,000? What is a good place to start to receive a counterbid? |
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If the place was just listed, is getting a lot of attention and is reasonably priced, a good starting bid might be $155,000.
If it's been on the market for a year at that same price, a good starting bid is $140,000.
If it's priced a bit lower than similar nearby properties on the market, a good starting bid is $150,000.
If the seller hates haggling and priced low for a quick sale, again try $150,000.
If the seller is unreasonably attached to the place and doesn't really care whether he sells this year or next, don't even try negotiating.
In other words, it all depends and there's no one right answer. But if you expect a lot of back-and-forth counter-offering, I must warn you that when that happens, the deal usually falls apart. |
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Edith
Originally published on May 22, 2008 |
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