2007-03-02 06:01:02 · 3 answers · asked by ppsam 1 in Business & Finance ➔ Renting & Real Estate
I know each case is different, but perhaps there is like a tendency or a reasonable percentage to begin bargaining.... Thanks!
2007-03-02 06:30:25 · update #1
Sorry!!!! I put new home... Actually, I'm asking about used homes....
2007-03-02 08:25:10 · update #2
It has to do with market value. If they are way above market value you would ask for a substantial discount on the offering price. If the price is at market value then the offer would be closer to the asking price. If it is way below market value then it would lead to a bidding war where it would be higher than asking price. You should ask your agent to show at least 4-5 comparable homes in the area. Since it is new you should try and compare new homes to new homes. Drive by them to get a feel for the neighborhood and what they look like.
2007-03-02 06:37:26 · answer #1 · answered by tianaramal 4 · 0⤊ 0⤋
Hard to say exactly, but I know that here in the Toronto area, most places sell for around 97-98% of the asking price. Since it is a sellers market here, if you go too much under that, the seller will tell you where you can file that offer! I advise clients not to start under about 95%, depending on the property and area. I would say that is a pretty good guideline to use.
Laurin Jeffrey
Toronto Condos and Lofts
www.jeffreyteam.com
2007-03-02 16:15:28 · answer #2 · answered by Laurin Jeffrey 2 · 0⤊ 0⤋
Every situation is different! Does it need work or up grades and how badly do they want to sell and how fast. You never know till you ask though!!
2007-03-02 14:05:19 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋