Question Details

Sara, Home Buyer in Chicago, IL

Is 10% less than the asking price a respectable offer? How do you know what to ask for?

Asked by Sara, Chicago, IL Thu Aug 7, 2008

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Answers

3
SARA,
Check comparable sales within the last 6 months.
This will give sales that have been both distress
and non distressed properties. Make sure you are
comparing apples to apples when accessing the
sales. A 10% below aksing price may be to high
of an offer. If sales are slugish in the area you may
start the offer lower.m Do your homework and ask
your realtor to give you the comps and you have more
information to make your offer.
Hope this helps,
BROOKE O'MALLEY FORECLOSURES SPECIALIST
SARASOTA, BRADENTON, AND VENICE FL.
AND SURROUNDING AREAS.
2 votes Thank Flag Link Thu Aug 7, 2008
Yes, it is respectable. Ask for seller to pay all cc's, all pts up to 2, all inspections, all repairs, dp assistance, improvements as you decide, etc. It never hurts to ask, they can always counter. In today's market ask for everything.
0 votes Thank Flag Link Thu Aug 7, 2008
Sara,
A good Realtor that knows the area you are considering could better answer that question. They would be able to look at that particular market area and determine what specific homes including square footage, number of BR's, baths, lot size, etc...are selling for. Many homeowners are still overpriced in todays market, while some are more realistic. Best of all, using a Realtor will not cost you anything however it could save you lots of $$$ and piece of mind. Please let me know if I can assist you in finding you a knowledgable professional in your area.
0 votes Thank Flag Link Thu Aug 7, 2008
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