If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

I know every house and situation is different, some are priced for the market, some are not blahblahblah

BUT

I'm really trying to get a read on what is being offered and, if possible, what's being accepted (in general) in terms of percentage.

(We may be selling our coop and stupidly I started looking at houses, only to fall in love with one above our price range Just curious how low people have gone with their bids - basically how much I can lowball them without having them laugh at me)

Message edited 9/4/2008 12:02:43 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

When we sold our condo, the 1st bid was for 25K below asking, by the time negotiating was over, we got 5K below the asking price.

ETA we sold 3 months ago

Message edited 9/4/2008 12:00:31 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

Our first bid was about 10% lower and we ended up settling at about 8% lower

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

our first bid was 12% lower and we ended up with 6% lower.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

I'm not sure if this will help you since we live in FL and bought a foreclosure that was already priced extremely low... but we put our offer in at 4% lower plus 3% back for closing costs and the bank accepted.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

I asked for $34K lower and got it after a few going back and forth, etc..

Message edited 9/4/2008 1:48:02 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We bid about 8-9% lower on a house that was very well/fairly priced. We wound up paying about 4% below asking, with sellers concessions of about $4K (they removed asbestos in the basement and replaced the hot water heater), and a home warranty.

eta: we closed in July.

Message edited 9/4/2008 1:52:42 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

5% lower.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We started at 6% below her asking and settled on 4% below asking.

That doesn't include the $50,000 that she had already come down though.

We closed almost 12 months ago.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

I think e went 15% lower, the counter is about 13% I think. Math isn't my strong suit LOL We went down $9000 (knowing bids had come in that were 11k less and had been rejected). He raised by 2k.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We are currently in contract on our first home. Our first offer was $25k below the current asking price. After going back and forth, we settled on $10k below asking price. (However, they had also dropped the asking price considerably since it was first listed.)

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We went a little lower..then got in bidding war..so then we payed more then asking!! BUT I will say the house was priced 20-30K lower then neighborhood comps (so says realtor).

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We bid about 10% lower, and it got accepted at 6% lower-still waiting to sign contracts...

Message edited 9/4/2008 3:49:48 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We settled on 10% lower... we got a 400K house for 360K.

Start low, they will counter and hopefulyl you will meet in the middle.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

the house was priced 14k higher than what we ultimately paid.


eta: the house came down 20k in price the week before we saw it... so we paid 34k less than the origional asking price

Message edited 9/4/2008 7:40:03 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

I know you don't want this answer - but it's so hard to say. We priced our condo about 10% below the comps and we got a full offer. My neighbors are priced about 10% higher and for some reason they are all still sitting on the market (going on 5 months now). Either they're not budging when people make offers, or the high price isn't getting people in the door.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We originally wanted to go 15K lower as they already lowered the price, but wound up having to go 5 K over as we were in a bidding back and forth then.

But with the credits for certain things we wound up only 2k below asking.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

Our 1st bid was 25K lower and we settled for 10K lower than their asking

Message edited 12/7/2009 10:58:22 AM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We closed on our house in June and paid $40k less than the asking price.

ETA: Our house was listed for $480k and we closed at $440k.

Message edited 9/5/2008 4:51:41 PM.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

We bid 16% lower than asking and got it for 13% lower than the asking price. But IMO, I could have gotten it for less. The house was WAY over priced.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

I think we offered about 6-7% less, but were firm on it and the seller accepted it.

I went more by what was listed on mynassauproperty as the comparable sales and the assessed values when we made offers.

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

Re: If you've placed a bid in the past 6-12 mos, what % lower than the asking price was it?

Our first offer on this particular house that we've been back and forth with was 35K less than asking, and they said no way....but to make a long story short.
It's been on the market over a year now and they ended up going into short sale (which if they would've taken our original offer they would've made out) Now they're asking 4K more than our original offe r, so we of course lowered our offer a little and now just waiting on bank approval...which if anyone knows how short-sales work....they take FOREVER!! So we're just playing the waiting game now

Message edited 9/6/2008 11:42:04 PM.