(Closed) Offers

posted 5 years ago in Home
Post # 3
3082 posts
Sugar bee
  • Wedding: July 2014

@confusedbridehere:  I don’t think that anyone can answer that, except people who are looking the area you’re looking in. It really depends on the market in your area and the price of the house. There’s no blanket answer. 

We offered above asking price on houses and they didn’t accept our offer. Most of the time we ended up offer at asking price and when we offered under we didn’t get it. The house that finally accepted our offer, we offered 6k over asking and we were told that’s the reason why we got the house because their were other offers at asking price. 

Post # 4
223 posts
Helper bee
  • Wedding: September 2014

@confusedbridehere:  We are usually offering under by 10-20% of the asking price.  We aren’t in a huge hurry to buy and have a good deposit so we have time on our hands and no pressure (currently waiting).  I’d prefer to leave the seller to get a bit more desperate so hopefully get a better price. (but they do need to accept!!)

Post # 5
46613 posts
Honey Beekeeper
  • Wedding: November 1999

@confusedbridehere:  Has your realtor shown you recent sales of comparable homes? That helps to get an idea of what the market will take to sell.

Post # 7
6256 posts
Bee Keeper
  • Wedding: March 2014

We saw a house today that is incredible and an incredible bargain. We are probably going to offer full asking price, if not slightly over.

I’d see what the other houses in the neighborhood are going for per sq. ft., how long it’s been on the market, and how much it sold for the last time. The house we are looking for is going for like $56 per sq. ft., so we are going to be sure to jump on it!

Post # 8
12247 posts
Sugar Beekeeper
  • Wedding: May 2013

When I sold my place, I accepted an offer 15% below asking, but I was a motivated seller!

Post # 9
1041 posts
Bumble bee
  • Wedding: September 2014

@confusedbridehere:  i’m a realtor.  it’s not really about what the seller is asking for.  that is a general amount and i usually advise my clients to list low to bring in multiples.  it depends on what things are going for in the neighborhood and how long it has been on the market.  have the sellers lowered their price at all?  also what is their situation?  maybe they are desperate to get out and will take a lowball.  your realtor should be able to guide you, but you shouldn’t pay more than what you think it’s worth, which is only known by you.  

Post # 11
1784 posts
Buzzing bee
  • Wedding: June 2014

@confusedbridehere:  The home we just bought was listed at $131,000 and we bought it for $125,000 although we started at $120,000.

Post # 12
491 posts
Helper bee
  • Wedding: April 2015

My condo was listed at 247k, I offered 237, and it was accepted by seller.

Post # 13
1797 posts
Buzzing bee

I don’t think it is unheard of to offer 15% under asking price if that is what you are comfortable with. All sellers are different, and it all depends on their situation. If a house has been on the market for a while and the seller keeps dropping the price you know that they are probably motivated to sell, and more open to taking a lower offer. If the house has only been on the market for a few days and has had a lot of interest a seller knows that they can get full asking price or even more if they wait it out for a little bit rather than accepting the first offer they receive. 

Post # 14
635 posts
Busy bee
  • Wedding: May 2013

When I bought my condo in 2008 – the asking price was $220 – we offered $180 they countered at $200 we settled at $190.

For our house in 2012 it was on the market for $330 – we offered $300 they countered $325 and we settled at $320.

I think it depends on the market.


Post # 15
396 posts
Helper bee
  • Wedding: July 2013

Your realtor should look at average sale prices in the area (versus the list price). 

The house we are under agreement for was listed at 259,900, we offered 245,000 and they countered at 250,000 which we accepted.  We expected the 250,000 counter-offer, the houses in this area are selling at 95% of their purchase price. 

The market is fine in this area, but not super hot.  Obviously in a more competitive market you may need to offer asking price or more.

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