Making an offer on a house question

[puffkin]

I would agree with all the advice given. I would see what similar houses have actually sold for in your area (not what asking price was). I would also take into account any improvements. For example, if the house needs a new roof, I would subtract that from my asking price. I see nothing wrong with negotiating, especially if you have money to put down on the house. That way they know you are making a serious offer. You could also have your realtor check to see what other offers if any have been made on the house. Make your realtor do the work, that is what you are paying them for.

 

[disneyatl]

If the house is listed with a realtor the asking price is probably higher than it would be if it were listed by the owner. My first offer would be on the lower end. They will more than likely counter, and then you can re-counter somewhere in between.

 

[QueenTrident]

Honestly, I think it depends on the area and how much you want the house.

We're going through this now and have put two offers in, both w/ sales contingencies. Both got rejected. One seller was offended by the bid (6% less than asking, but still on the high end of market value - the house is still on the market), another chose a higher bid (we had bid 2% less than asking).

Now, we are looking at placing another bid on a house that has a ton of interest. To get the house, we'll probably have to bid full price. I just don't know that I want it that much - if that makes sense. The house that we bid 2% less on, I really wanted and would have bid about 4% over asking price if they had come back to us for our "highest and best".

In short, do your research, then go with your gut.