Those of you that just recently closed on a house Question

I was wondering if the market is really starting to come down or not??

Were you really able to put in a bid pretty low and got it accepted?

How much is price are you seeing that you are able to work with?
10k below
20K below etc.

TIA
Denise

Re: Those of you that just recently closed on a house Question

Our house was priced low for the area. We put in a bid for $30k lower and they said no and we ended up negociating to $20k under asking price.

We bought a FSBO but, they had a realtor come in and they said it would be listed at $49k higher than what we paid for it.

Re: Those of you that just recently closed on a house Question

We bought a month ago and we got them down almost $25k, but they had to sell their house for financial reasons. But I think some people are still willing to come down in there price. The market has too many houses on it and the buyers are able to chose from a large market, so the sellers are going to have to make decisions whether they come down in price or not. The old owners came down a total of $40k from their original asking price. You should start at a number that you are comfortable with and then they counter offer and you just have to have a number in mind that you will not go over. Then it's up to the seller if they really want to sell or not. The longer the house is on the market the better for you because they might be desperate. GL!

Re: Those of you that just recently closed on a house Question

We closed about 3 weeks ago. We offer $35K below asking price and settled at $25K below asking price.

Re: Those of you that just recently closed on a house Question

You can def. get below $20K, but then again it ALL depends on different variables.
- How long the house is on the market?
- How desperate are the Sellers to get it sold?
- What needs to be done to it?

You can also go to Open Houses in the area you are looking and see what the houses are going for.

Put it this way, worse case the Seller says no to an offer and you work from there, but I agree def. have a max. price in your head and stop at that point.


Good Luck

Message edited 8/21/2007 2:08:32 PM.

Re: Those of you that just recently closed on a house Question

If the house is priced fairly, people are not going to accept a lowball offer.

You have to see what the other houses in the area are priced like and see where the ones you like stand.
People have to be realistic on both sides.

Re: Those of you that just recently closed on a house Question

We got our house for 19K below asking price. The house had already been reduced 2 or 3 times prior. So....it was first listed at 555K and then 539K...to 499K and we got it at 480K.

Re: Those of you that just recently closed on a house Question

Message edited 8/21/2007 3:35:16 PM.

Re: Those of you that just recently closed on a house Question

We actually signed bid in February, but we didn't close until late June. In February, we offered $10K below asking and it was accepted. We were also putting down 20%, so that may have helped.

The house was priced well for the area, I can't say they had a high price, so we felt it was fair.

Re: Those of you that just recently closed on a house Question

We just cosed today. The original price was 439k, but it went down to 429k. We got it for 408k

Re: Those of you that just recently closed on a house Question

I think we got a pretty good deal on our house.

Original asking - $525 July '06
reduced to 499 / 479 / 459 / 439

Put in an offer of 380 when they came down to 439 and wound up getting it for 415 after going back and forth for about 2 and a half weeks

ets - we closed at the end of June of this year

Message edited 8/21/2007 8:49:01 PM.

Re: Those of you that just recently closed on a house Question

We got a good deal I think.

The original asking price was 539K and then dropped to 529K We offered 500K and ending up at 515K. We closed at the end of January.

Re: Those of you that just recently closed on a house Question

We haven't closed yet, but the seller accepted $15K less than his asking price and our purchase price is the lowest in the condo community we're buying in by A LOT!

Re: Those of you that just recently closed on a house Question

The house that we closed on in June was on the market for a few months. They had two seperate deals die on then because the buyers were unable to get a mortgage. The house was in foreclosure and we offered decently low. From original asking we got 46k off of the house. When we closed the buyers were days away from actually losing the house ebcause they no longer had any equity in it.