Home Buying in 07733>Question Details

Joe, Home Buyer in 07733

in holmdel, 07733 how much reduction one can ask on the list price.

Asked by Joe, 07733 Wed May 12, 2010

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4
Joe,
You've heard the standard answers already; "There no set standard reductions....", "...you can offer whatever...", and " It really depends...". The fact of the matter is how badly do you want to purchase this home and how badly does the seller want to sell, or in other words motivation. As a Broker I can pull comparable sales, give you the history of the home on the market. I can show you tax assessments and try to make sense of that. I can show you all other homes in the town or in your price point, but when you find a home that meets your needs, after reviewing the market and doing our/your homework we make an informative offer. Some sellers are accepting offers at 80% or 85% of the asking price and some sellers (if the home is positioned well in the market) are seller over asking. The county average is between 94% and 95%. Remember making an initial offer too low may insult a seller and start the relationship off on the wrong foot.
Good Luck
0 votes Thank Flag Link Thu May 13, 2010
Hi Joe
It really depends on the particular house you are interested in. Every home is different & every seller has different motivations. If you have not selected a house yet & need help finding one I'll be happy to help you.
What I do with my buyers is help them find a house then pull comparable sales for that house & show them how much homes are selling for in that area w/ similar features so they have a feel how much to offer & what the seller may be looking for. Feel free to contact me.
Regards
Joan Congilose CRS, GRI, e-Pro
RE/MAX Central
(732) 972-1000 Ext:364
(732) 232-5277
0 votes Thank Flag Link Wed May 12, 2010
Hi Joe, you can offer whatever you like, but realize that if you make a very low offer the seller may not take you seriously and decide to not negotiate with you. Ellen
0 votes Thank Flag Link Wed May 12, 2010
There no set standard reductions--you need to be aware of recently sold similar properties in the immediate area, review the data and make a determination--keep in mind that if a property is listed on target for today's market or slightly below, multiple offers could occur.
0 votes Thank Flag Link Wed May 12, 2010
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