NY State Licensed Associate Broker
Keller Williams Landmark II
This is a tricky question to answer. I would ask you how bad do you want the house? Meaning, if you give such a low offer that the sellers don't respond or no longer want to negotiate are you going to regret the offer? Your goal is to get the home for as low as possible and your goal is to keep communication open between both parties. So you need to devise a strategy and at times I put myself in the seller's shoes. I imagine if this was my home and I had this offer come in, how would I react? If I would be insulted, chances are they will be insulted. Truth is that you need to have an agent give you the market value of the home and decide what your willing to pay based on that value. Then make an offer that will get you at or below your comfort level. If your just looking to steal a home just make sure you don't mind if you never hear back from the seller. Remember, you may need to open negotiations after you have an accepted offer, so you want to keep the sellers on your good side.
If it's turned down. Each situation is different. Some seller's overprice their home and a fair market offer may seem too low to them. Others are priced fairly, but accept a low offer just to be done showing and move on. A good agent working on your behalf will have a good sense of your local market and the specific house you have in mind is worth. There are no reliable rules of thumb. Each seller and each agent have their own theories of how to market and sell a home.
If you haven't already got a great agent working for you, find one. We earn our commissions in situations just like this.