(Closed) List Price vs. Purchase Price – Did you get a deal?

posted 6 years ago in Home
Post # 3
368 posts
Helper bee
  • Wedding: July 2011

We got $5k off the list price, but we also purchased a brand new home from a builder, so usually there isn’t much wiggle room. 

Post # 4
4161 posts
Honey bee
  • Wedding: October 2011

For our current home, we went in asking $10,000 less and the sellers agreed.  We also recently purchased a condo for an investment, but since it was from the builder, there was no negotiating with them.  We did however see an ad in the local newspaper saying that if you mentioned it, they could give us $1000 off!

Post # 5
18641 posts
Honey Beekeeper
  • Wedding: June 2009

Ours was listed at $241,500 when we made the offer at $235,000 and had it accepted.  There was a problem with the appraisal though so the purchase price was actually $230,000.

Post # 6
799 posts
Busy bee
  • Wedding: June 2011

List $239K +$15K free upgrades (new build on inventory, but did not get to pick lot, or pick house type. Builder was finishing the phase and wanted stuff sold to get out of there)

Offer of $233K, ask of double paved driveway (instead of single) and to not pay for laundry upstairs upgrade and basement bathroom rough-in.

Offer $233K was accepted, however the city said no to the double driveway, so we knew we would just have to landscape it (paving not ok, landscape stones are fine)

45 mins East of Toronto

That’s it!

I think it’s SO area dependant, there was a home in Toronto that just sold for $420K over asking (it was listed for like $700K) Our area resale typically goes close to, or over asking unless it’s a dive.


Post # 8
5766 posts
Bee Keeper

Asking price of $228K Paid $205K

Post # 9
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

We’re under contract for $15k (3.33%) under list price, but it’s not really what I would call a “deal”, as we will still be paying fair market value for the property. That said, fair market value today is $300k less than it was at the peak of the market when this home was built. So from that angle, it is a good deal, and the seller (and the seller’s bank) will be taking a huge loss.

Post # 11
3618 posts
Sugar bee
  • Wedding: November 2011

We got a great deal on our house. We got about 8% off the list price. The home was for sale by owner and we came in without an agent so there were no commission fees to pay. We were also able to meet a short escrow time frame.

Post # 12
8449 posts
Bumble Beekeeper
  • Wedding: August 2012

I think ours was originally listed at $237k and we got it for 218k. Was a cash offer though.

Post # 13
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

I think it’s less of a dollar amount issue and more of a % off list price issue. I just went back and edited my post to add the %. 15k off on our purchase price is less than 3.5% under asking price, but for a home with a lower list price, $15k less could be 10% or more! And you would need to factor in what, if any, closing cost assistance the buyer received from the seller. In our county, it’s fairly typical for the seller to kick in 2% of the purchase price towards the buyer’s closing costs. So although it isn’t reflected in the purchase price, the buyer is really getting an even better deal. Since our purhchase is a short sale, we could not ask for closing costs because banks in this area will reject a deal that asks for closing cost assistance.

Post # 14
13096 posts
Honey Beekeeper
  • Wedding: July 2010

We bought a new build and the seller based the list price off the appraised value and wouldn’t budge from there (so as not to hurt the values of their other homes).

So the list price was $259,000 and we offered $259,000 but asked the builder to throw in about $15K worth of extras for us (wrought iron fence, stainless steel fridge, $5K closing costs, ceiling fans, shelving, blinds and screens for windows, etc).  They accepted and gave us everything we asked for.

So I still think we got a deal.

ETA: The appraisal (before our extras were put in) came back at $260,000 so they were definitely accurate in their listing price.

Post # 15
9053 posts
Buzzing Beekeeper
  • Wedding: June 2010

We bought New directly from a developer so there’s often not much room to negotiate. It was listed for 234,500 and we paid exactly that with about $4000 worth of upgrades added. 

Post # 16
191 posts
Blushing bee

I thought I got a good deal at the time! The sellers came down $27,000 and had to pay $33.000 out of their pocket just to sell me the house.  About two years later and my neighbor (albeit his condo is smaller than mine) paid over $37,000 less for his condo.  The market is starting to come back a bit and luckily I can sell my condo and pay off my loan and realtors fees but I won’t be making my 20% down payment back.  I really wanted to buy a house soon, too. Cry 

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