2007-01-14 12:20:37 · 6 answers · asked by DJ 2 in Business & Finance ➔ Renting & Real Estate
It will vary from seller to seller. It will depend on things like how much is owed on the property vs. asking price, and market prices wherever the seller is moving to.
I sold my last house for $170K, with a listing price of $174,900. I could not afford to go any lower.
I am getting ready to list a house for $99,900. I will not be able to afford to sell for less than $95K.
I have a friend who's property is listed at $525K. Anything over $280K will be profit, but she will not take less than $500K.
2007-01-14 13:44:44 · answer #1 · answered by Sharingan 6 · 1⤊ 0⤋
It varies depending on the seller's motive. Because you're asking this question, I assume you're not working with a Realtor. A Realtor is an expert with negotiation and has statistics showing how much most sellers flex in their price in any given neighborhood. You shouldn't be entering into a purchase contract or be making any offers on a house if you don't have property representation. You won't be saving any money if you don't have representation as the seller has already agreed to pay your agent when you bring a contract. If you don't have an agent, the seller's agent gets your buyer's agent's earned commission. Why buy without representation?
2007-01-14 20:51:41 · answer #2 · answered by charlottesville101.com 2 · 0⤊ 0⤋
anything is only worth what someone will pay for it. If there is a lot of demand then there may be no room to move (the price might go up higher even).
If you are the only bidder than you have a much better position.
If you are the only bidder and they are under pressure for a quick sale you are in an even better position.
You can also sweeten the deal by offering a shorter settlement period (say 20 days rather and 60 or 90).
2007-01-14 20:29:35 · answer #3 · answered by darklydrawl 4 · 1⤊ 0⤋
real estate is a game between the seller and buyer, who's the best at this game of hold-out.
If you have cash and a credit rating of 700+, then your cash is King and the rating will pickup where the cash leaves off.
You've got the bargaining chip as the purchaser and now you have to figure out how hungary is the seller and what will he drop to to sell his parcel.
The average % of reduction is about 5% and go from there.
2007-01-14 20:37:02 · answer #4 · answered by ticketoride04 5 · 1⤊ 0⤋
You can drop it whatever you want. If it's too much, they'll say no, or they'll counter-offer. If they say no, then you can just come back with a different offer. You'll counter back and forth until you reach an agreed-upon price.
2007-01-14 20:25:17 · answer #5 · answered by Jess H 7 · 2⤊ 0⤋
YOUR THE BUYER IF THEY DONT LIKE IT TELL THEM YOU GOT SOMETHING ELSE IN MIND THEY WILL COME VERY CLOSE IF NOT TO UR ASKING PRICE... IT ALWAYS WORKS... ITS A MIND GAME
2007-01-14 20:23:19 · answer #6 · answered by Silly 3 · 0⤊ 0⤋