How much below

How much below asking price did you offer? We are going back to the house we are set on tonight one final time and plan to make an offer on the house?
Is 10% too low you think?
Also what did you end up finally closing at % wise below asking price ?

Tia

How much below

1st house (bought in 2009) we paid asking (it went into a bidding war and we had been looking for almost a year). We sold at asking also, which was higher than when we bought.
2nd house (bought in 2012) we paid 13% below asking. Looking back, we probably could have gotten this house for less, but it was the exact style that we wanted and I would have been sad if we lost it.

How much below

Back when we bought, we started at about 10% below and worked our way to sale price. In today's market, I don't think you can offer below asking, depending on the house and area. I've heard of houses selling for above asking.

Re: How much below

For the house we just purchased last year we rounded up to the whole thousand dollar. The price had dropped 20k and we did not want to miss out. We had been outbid seven times, and every home had gone for asking or above. We are selling and while we did reduce the price, the buyer is giving us our asking price. Edit, ask your realtor for comps. Don't just say oh the priced here so we are offering x below. If it is new to the market, they are going to want closer to asking. If it has sat, then offer less, you will have more bargaining power.

Message edited 8/4/2015 8:25:59 AM.

Re: How much below

When we bought our house the market was high and there were multiple offers on almost all the decent houses we saw
As soon as we saw it, we knew we wanted it, and it was the first day it was on the market.
We went in at asking price and got it

Re: How much below

I really feel like it depends on house and the market. If the house is priced well for the area and the market, your offer should be reasonable.

With us, our house was priced a bit above market even though the location was great. We offered 17% below asking and settled at 14% below after a few back and forth counters. Also, with us, the seller owned it outright so it wasn't a matter of needing to pay off existing mortgage, etc

Message edited 8/4/2015 8:40:37 AM.

How much below

When we bought, houses were selling for below asking (right at the beginning when the market began to come down). We started at 10% below and ended up at 5% below... The house was well priced though - even asking would have been a good deal.

Most people I know who are looking now are offering asking price or slightly above.

Re: How much below

we bought last year. offered 5% below asking. ended up paying 3.3% below asking.

the price was dropped a few times because they were originally asking way too much. I think the asking price by the time we saw it was the fair value, so I think we got a good deal by paying less than asking.

eta: I think it really depends on if the asking price is on point, and how hot of a market it is in the area. I've seen so many changes in the market in my area even since we bought 1 year ago.

your real estate agent should really be able to help you know what is a good offer if you really want the house.

Message edited 8/4/2015 9:13:07 AM.

Re: How much below

It really depends on the market, the house, the seller, etc.

When we bought 7 years ago we offered 15% below asking price. We knew the house was an estate sale and it was a complete fixer upper. We figured they'd either tell us to take a hike or come back with a counter. To our surprise they accepted our first offer. Turns out the beneficiary lived out of state and wanted to be done with it. You just never know.

With that being said, if you love the house I'd offer asking. You don't want to regret losing the house.

How much below

We bought in 2012.
Home was listed at 340, original offer was 300, we negotiated and purchased for 318. House appraised at 340.

How much below

we bought at 8% below asking. I think we started at around 15% below asking.

How much below

We bought in 2011. Asking was 315K we offered 275K only because it needed alot of work and TLC. We got it for 290. We were willing to keep looking if they said no. If you are very attached I wouldn't be that aggresive 10% seems to be the norm.

How much below

We bought in April. We offered 3% below. The house was priced pretty fair and we were in love with it. We were willing to pay full asking but lucky for us the sellers were desperate to sell (the hosue was an estate sale with a previous offer that fell through at financing) so they accepted our first offer. You never know.

Message edited 8/4/2015 1:19:50 PM.

How much below

We bought last summer and offered asking- paid slightly above asking because we got into a bidding war. It is entirely dependent on the house. I'd ask your agent for their opinion.

How much below

Bought in 2011. House was listed at 319. I believe we offered 300. Got it for 305.

Re: How much below

We bought our first house in 2008... it was listed for 469k and we closed at 440k. This just became an investment property that we are renting.

We just bought our second house, closed in February. We paid $5k ABOVE asking. It was a bidding war with 9 other offers on the house.

It really depends... how long has the house been on the market? Our second home was on MLS for literally 10 days before we went into contract. If the house has been sitting for sale for a while, the seller might be more motivated to entertain a low offer. I wouldn't lowball too much bc it might turn the sellers off. I'd come in where you feel comfortable, but leave yourself room for negotiations. I hate the game!! It's so hard to really know what the seller and RE are willing to take.

Good Luck!!!

Re: How much below

We also bought at the top of the market (early 2005). The house was listed at $430, we offered $405 and we agreed at $415. The house was on the market for a total of three weeks.

How much below

We offered 10% below and ended up at 8%. If we really pushed I think we could have gotten it for what we originally requested but we were scared because we were first time homebuyers.