If a house is on the market for over 90 days can you offer at least less money for it how much would you offer

Answer 1

I would offer 10% below asking price.

Answer 2

Ask your buyers agent-which you have right? They should guide you on the offer. They can tell you what other similar props in the area are selling for (or on the market for) and they can tell you if the prop has dropped in price already. Depends on the seller-they may not be able to take less money, they may have an unrealistic view of what the house is worth, they may be testing the waters and aren't really worried if it sells. If you make an offer that is less than asking by more than about 7%, I would write a letter to the owners and tell them what you like in the home and that you would enjoy the place and seeing your family grow up there, but these are the things that make you feel you should offer less. If the owner is in the mix (not a foreclosure or flipper) then they have likely put a great deal of time and pride in that home and if you offer say 15% less and say "well it's a dump we have to do x,y, and z" you may just tick them off and lose the place. If however you tell them you love the flowers they planted, the color of the kitchen, etc but you will need to upgrade the heating system and the plumbing-well that is easier to hear and may make them realize they are asking too much. Just be sure you aren't going to low in the offer. Good Luck!

Answer 3

This is a strategy a lot of Realtors and Buyers are using in a Buyer's Market. As longer a property is on the market, one can assume as more willing the seller is to negotiate the price. A lot of times you can get those properties about 10 - 15% sometimes even more under asking price.

But if the property is on the market for 90 days or more, the price might have been adjusted (lowered in many cases) at least once. Check out recent sales in the same area, look at the price per SF and other criteria, to find out the average purchase price of those properties. A local Realtor should also be able to tell you the difference between the asking price and the acutal purchase price, that should give you a rough idea.
It is a buyers market, it never hurts to try (:

Answer 4

Depends on the house, the current list price, and your local market. The "10% below list" rule of thumb only applies to a house for which the list price is reasonable. But there are many agents out there who will list a home at far more than it is worth, just to get the listing. They know that in the end it may sell for 25% below list or more.

If you aren't familiar enough with your local market to assess for yourself what the home is worth, you need to be working with a buyer's agent who can do this work for you. If your current agent is talking nonsense about "insulting the seller" then it's time to find a new agent.

One more thing: NEVER work with the listing agent when you are going to buy a home. (The listing agent is the one whose name is on the sign in front of the house.) Agents love it when buyers do this, because they earn a double commission. But the listing agent has a relationship with the seller, not with you. You'd never hire the attorney of somebody who was suing you, and the same thing applies when you are buying a home. A buyer's agent is paid his sales commission by the seller, so it won't cost you a dime to get one.

Answer 5

You need to do your own research. You should make an offer that is based on market prices. You are on your own, even if the realtor is a personal friend, just take thier advice as part of your research. Realtors always, "We don't want to insult the seller, so the offer has to be higher". Huh? OK, it has to be in the market, but why is an offer insulting. The seller can just say no.

Answer 6

before making any offer, ask your buyer's agent (the real estate agent representing you--and if you don't have one, get one because they are free to you--they get paid out of the seller's proceeds when you buy). Anyway, have that agent pull some comps in the area and see what other houses are selling for--selling for, not listed at . What they list at and what they actually sell for might be two very different amounts. When you have some solid information on what is going on in that neighborhood, you can make an informed offer.

Answer 7

You really can offer whatever you want. If the seller wants to sell, they will consider all offers. If they are not in a hurry, they may tell you to jump in a lake after receiving a lowball offer. Either way, it doesn't hurt to offer what you want to pay. If you don't get emotionally involved (don't "fall in love" with the house) and your offer is rejected, then you continue the house hunt.

Answer 8

You need to talk to your real estate salesperson about it. You may have to make some improvements as well as lower the price. Have you removed all of the clutter in the house? Painted? Freshened up the look of the place? Does the outside have curb appeal? Put a big pot of mums outside the front door and paint the door a bright color like yellow or red.

Answer 9

You may offer whatever you want...but the seller may not take it. Do your homework. Find our what improvements, if any need to be made. Have a contractor estimate those costs and make an offer including these costs. Good luck.