We're looking at a property and the seller has come down 4% from the original asking price of 159,000. Is that reasonable or should they be expected to come down lower?
2007-05-08 11:34:05 · 4 answers · asked by Cari C 1 in Business & Finance ➔ Renting & Real Estate
We just bought a house that was only 2% under the asking price. You need to know the neighborhood you're buying from as well. Check out the comps of the houses sold. (What did the other houses in the area sell for in the past 6 months.) That can give you an idea of what you should be paying for your house.
2007-05-09 05:06:44 · answer #1 · answered by momathomewith2boys 5 · 0⤊ 0⤋
Practices vary by area. In some California locales, the price is started low, with expected bidding for the property, which may drive the price up well over $100,000 more than the asking price. In other markets, negotiation occurs. In yet other markets, sellers simply stick to their asking price until they sell it.
You need to learn more about your typical market and do some research on the house in question. The house may well be fairly priced at $159,000, or they may have started $20,000 over what they should expect.
Do your homework.
2007-05-08 12:43:04 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
That is too general of a question. It depends on the housing market in your area, and what houses are going for in that neighborhood.
2007-05-08 12:19:12 · answer #3 · answered by jenniferj47 2 · 0⤊ 0⤋
Do you think that price is fair? Do you think you can get a better deal? Do you think price are going to drop?
IF you like the house get it but do not plane on selling for some time..
http://www.breakingbubble.com/
Best of luck
2007-05-08 11:46:34 · answer #4 · answered by Anonymous · 0⤊ 0⤋