First, your Realtor should help you determine if the asking price is on point with current sales. Then, condition of the house should come into play. For example, if the roof needs repair then your offer should be less than the asking price.

Look at comparables. Find out what other properties are selling for. Has the place been updated or does it need work?

As your Realtor, I customize a comparative market analysis or a market appraisal on the property you are interested in purchasing. Based on the outcome of the research and knowledge of the market, I recommend an offer price range and we prepare a contract or offer to purchase to the Sellers. If financing, a pre-approval letter is required to substantiate your offer. Every property has individual variables which are evaluated on a case by case basis.