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What to Offer |
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What would normally be a good faith offer- first offer- on a home? Ten percent below the asking price ? Thanks. |
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The answer is a firm "it all depends".
How long has the house been on the market? Is it vacant? Why are the sellers moving? Are they under a deadline? Did they set their asking price in line with similar nearaby recent sale prices? Or does it look as if they just tacked on some thousands "to see what happens"? Is this a one-of-a-kind dream house or are there others nearby that might do just as well?
As you can see, there is no rule about this, not even a rule-of-thumb. Some sellers expect back-and-forth negotiations, others have listed at a sensible price because they can't stand dickering. Some would be insulted by a low first offer and might not even bother to answer it, others might be prepared to split the difference.
If you have your own buyers' broker, your agent can give you advice that grows out of experience and an analysis of the seller's situation.
The seller's agent is not supposed to suggest anything under the listed price, but sometimes you can pick up clues there anyhow. |
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Edith
Originally published on September 24, 2007 |
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