How much can you usually negotiate off a starting price?

Question

I have never bought a home and am interested in learning. What do people normally negotiate off of a sellers asking price? For example, a 1.4 Million Home located in the San Francisco Bay Area. Im sure there is a lot of things that factors in, but just a ball park figure. THANKS

Answer 1

Plus or minus 10%.

So, the house you want, listed at 1.4 Million could be bought (probably) anywhere from 1.54 Million down to about 1.26 Million.

It depends on about a million things. What's it actually worth, what's the current market like, how easy would it be to get financing, what's the owner's situation, did the buyer tip his hand, what's the neighborhood like, is it average for the area, what condition is it in, did Elvis ever sleep there, did anybody get put to sleep there? Well, you get the picture.

Some houses sell for the list price. Some sell for less. Some sell for more. Whatever the "average" is will have little or nothing to do with what your house will sell for.

Answer 2

Al. how long has it been on the MKT? And what is the going rate right now since the interest rate is up and prices have went down?Remember one thing , afetr ya make an offer and they accept ya can't go back and offer less, so less is more. Offer $750,000 and wait for a counter offer,if they come up with one, and if not say "OK , Bye. And wait patiently for either a counter offer or another place to come up for sale

Answer 3

This is IMPOSSIBLE to answer.... it is a buyers market, you need to see what things have sold for recently... also, is the owner desperate?

Whats the condition of the house?