There is no correct price to offer. First, I strongly recommend you work with a realtor to help you make that decision. Our last client made an offer on a properties that sold for 200,000 less than asking, however the offer was accepted over higher offers because they were ready to act and more likely to close escrow...they had less contingencies than any other offer that was put in, and there were several offers!
Its not always about the money, you have to take into consideration the whole picture. Also, a seller may be more motivated once a property has been sitting on the market for awhile and they really need to move!
There are so many factors that could influence such a decision, including timing.
Please feel free to contact us if we can help you in any way.
Good Luck to you
Lou and Alex
LA Real Estate Group
Best of Luck to you!
Revi Mendelsohn, Realtor
President's Circle Award Recipient
Coldwell Banker Beverly Hills East
9388 Santa Monica Blvd.
Beverly Hills, CA 90210
Integrity, Reliability, and Outstanding Customer Service.
You don't say when the property was reduced...that will make a difference as to how to present your offer. If it's brand new construction, then maybe the builder is in trouble, or just trying to move unsold inventory and may be motivated further. If it is brand new construction, it's better for you as the seller won't be as emotionally attached to the property...they will just be looking at their bottom line, vs having an emotional attachement to the property. If you want to email me and have me do an analysis of what's on the market and what's sold in Century City, I would be happy to do so. You can also look on my website to pull up properties currently on the market in Century City.