Hi Isabelle, You should have an agent working for you and giving you comparables of what has sold in either that building or in other buildings that are similar so you can determine what a good opening bid would be. Let me know if you need help in that area. Regards, Lou

HI Isabelle,
THe bid you put in depends on how the property is priced, (is it priced realistically, in line with other similar properties that have sold recently) and how badly you want it. Pricing is not an exact science, and so within reason there is a range of numbers that probably reflect market value. The decision of how to bid is yours--if you bid too low you may not get a counter offer. IF you feel you must try a low offer then do so, but be prepared to raise your bid if the seller doesn't counter. Please let me know if I can help you further. Margie Weschler

Hi Isabelle,

The short answer is that there is no rule of thumb for this. It all depends on how well the property is priced to begin with. If you would like me to research the property and suggest a bid for you, e-mail me the address or call me and we can discuss.

Walt FitzPatrick
Houlihan Lawrence Bronxville
914-513-9811
wfitzpatrick@houlihanlawrence.com