Home Buying in Altoona>Question Details

Sapphirebday, Home Buyer in 25855

Can I put an offer on a lot that is lower than the asking price?

Asked by Sapphirebday, 25855 Wed Aug 29, 2012

When I see a price for a lot (ie $50,000) is that price negotiable? Or the price for lots is pretty much a fixed price?

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Price is almost always negotiable, that's part of the fun in buying real estate. On average in Central Iowa, sellers are getting around 96% of the asking price. If the lot you are looking at is $50,000 then the average sales to list price would be $48,000. That isn't to say that you couldn't get it cheaper though. It ultimately depends on the seller and what their motivations are.


Josh Gillum
Gillum Group Real Estate
Josh@GillumGroupRealEstate.com
515-271-7728
Licensed Real Estate Broker in Iowa
0 votes Thank Flag Link Wed Aug 29, 2012
You can offer anythng you want, but the sellr does not have to accept or even counter. Using a local buyer brokr who can assess what the lot is worth abnd guide you with making an offer would certainly help you.
0 votes Thank Flag Link Wed Aug 29, 2012
Hi Sapphirebday,

You can offer whatever you want. However, you need to keep in mind the seller may not accept your offer. You should offer current market value or at least close to current market value to have a better chance of your offer being accepted by the seller.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Wed Aug 29, 2012
Absolutely! There is no guarantee that a seller will accept a loer than asking price offer but I would highly suggest trying.

Brandi Nelson, Realtor
Century 21 Signature Real Estate
1615 Golden Aspen Dr #104, Ames IA 50010
Brandi.nelson@century21.com
515-291-0914
0 votes Thank Flag Link Wed Aug 29, 2012
Yes, of course, you can always put an offer in for any price you want. There's no guarantee that the seller will accept, nor even counter, depending on their motivation.

For the best advice, ask your buyer's agent.
0 votes Thank Flag Link Wed Aug 29, 2012
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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