making an offer they can't refuse :)?

Question

Which of these (as a seller) would you be more inclined to counter offer/accept if seeling a home, what I mean is what would be the LOWEST percentage you'd be willing to even consider if being offered a bid on your property?

Your asking price= x

90% of x
89% of x
88% of x

Answer 1

I would most likely do a counter on the best offer presented. In your question, it's the 90% HOWEVER if someone came along that offered a higher bid, our conversation would end quickly.

Answer 2

Hi the question is rather difficult because there are so many variables.

The more motivated a seller or buyer is the more apt they are to negotiate and do more to get the deal closed.

I have found that (I am a real estate agent) the better quality buyer it is and the more qualified they are and the more money they have, the better deal they get.

Also in desperate situations folks do desperate things. I remember one guy I knew was debating rather to rent his house out or sell it.

I advised him to sell it although I also rent homes too. But its not good to rent out some homes and so he left and I never knew what advice he took.

A year later he came back into my office in literal teary eyed panic and told me he just wanted to get rid of the house with a quick sale.

I told him to relax and not jump to conclusions too soon but he said that I didn't understand, he said, I have to see what the tenants did to his house.

Well I went over there and there was a dead old horse in the pool which was empty.

The walls had holes in them and the lawn..you know the story.

Fortunately we sold it for market value as we were able to clean up everything and fix the pool.

But if I were to let him go on his emotions he would have dumped the place and lost alot of money.

So the more emotional a situation is, I noticed the more folks tend to either Pay too much or sell to low.

Also the banks now-a-days are selling homes lower it seems than what owners would.

For example in one neighborhood where I specialize in, the average home sells for $350,000 but just last week a bank repo sold for $250,000 and so that also affects the value as appraisers will indeed use those bank repos as comparable sales to appraise the value.

Answer 3

Not enough information. What if the house is over-priced to begin with because the Seller isn't in a hurry? What if they have to sell because they bought another and can't afford 2?

Every property is different as is every buyer and seller. In this buyer's market the only way to find out is to offer what is considered a good deal for the buyer and see what happens.

Answer 4

If you want to buy my house, let me know.... I love algebra!

Let Y be the actual value of the house.

Let X be my asking price.

X = 2Y

Offer ANY of your offers and I'll take it!

This way you'll be giving me a minimum of 176% of what my house is worth!

The moral of the story is this...... don't base your offer on the list price. Base your offer on what the house could reasonably sell for in the current market.

Answer 5

Only fools sell now, so I am sitting on my properties. Almost everyone I know is busy buying up as much inventory as they can. Offers of 60-70% are becoming common "bragging rights" with the abundance of sub-primers in foreclosure.

Answer 6

I would take 95% and be willing to pay some of the closing costs. Another option.