Make the offer and see what they come back with.
A seller's motivation changes constantly. One minute they are insulted, the next they consider it. But a dialogue must start with a written offer.

it depends if owned by the bank or by real seller!

The answers below are excellent. The thing that you have to realize is that you cannot just pick a number out of the air. You are wondering if you can purchase the home for $385K. What is that number based on? Is it the amount that you are qualified for? Is it what you think the house is worth?

A qualified Realtor & Consultant will be able to tell you what you can expect to pay for the house. Depends on location, location, location and condition. If the houses in this area in comparable condition have been selling for around $474K, you can probably forget $385K. Hopefully you will find a Realtor that you like who will workt with you and help you reach your goal.
Good Luck

Leander McClain
Realtor & Real Estate Consultant
Keller Williams Realty
1814 Route 70
Cherry Hill, NJ 08003
856-685-1677

Buyer101

Are you working with an agent who can get you the most recent sold comparables to see if the house is really only "worth" that price? Are you looking at homes over your budget and trying t get a "deal" because the market is bad? Have you looked at similar homes in the area which are priced much lower or is this house extraordinarily different and listed accordingly?

Without seeing the comparative sales, knowing where the house is located (yes location makes a difference), what type of house, size, amenities, improvements, or knowing if it is a short sale, the length of time it's on the market (seller motivation factor), and so on, it's impossible to give you the proper answer. I will say, however, more often than not an offer of $89,000 less than list price most likely won't be accepted (tho every once in a while a seller will surprise us and accept a low offer).

If you are going to make a low offer, you need plenty of ammunition to justify the offer.

Hope that helps

This depends on many factors

The motivation of the seller
The amount owed on the property
The comparables in the area

I have seen properties go for 100k less than the asking price. This has been in a short sale or fireclosure circumstances. In addition the property was overpriced to begin with. A house that is properly priced will rarely go for 100k less.


Please feel free to contact me directly to discuss further.

Best Regards
Anne Ridge BA GRI CHMS CNS
Experience Service!
Coldwell Banker Residential Real Estate LLC

Buyer,

Honestly, this really depends upon the comparables in the area, how the actual list price compares to same and the seller's mindset as many have 'listed" on the basis of "I don't have to sell," but if I can get this I will sell.

In the alternative, I've had buyers put such lowballs offers on a property that have produced acceptance of such offers (albeit weeks later) . . in today's market, u just never know. . . . However, I must agree with the others that a $100k less often rarely prevails, desipte indivdiual circumstances.

Love and Peace,
Francesca, Realtor, ePro
Francesca@PatrizioRE.com

With out even seeing the house and knowing the comps.

No.

Buyer101, connect with an agent to guide you - what I see across markets and price points is that homes generally sell in a band of 1-5% of asking price when they hit their strike price, whether that is when they first hit the market or after a number of price reductions. The only way to know whether the property you are considering is priced properly is by doing the analysis and it is important to do it. Offers based on the facts of the market are far more likely to succeed than those that are not.

Answering your question is really not possible without knowing more - if the home is priced correctly, the margin you describe is too large. If the home is way overpriced, it may be too small. You get the idea.

Good luck to you,
Jeannie Feenick
"Unwavering Commitment to Service"
Search and connect at http://www.feenick.com

Hello:

I always say everything is negotiable but it also should be fair.
It all depends if the property is over priced and what the comparables are for the home and area.
If you would like further assistance, feel free to ask.

Thank you,
Gina Fagnani
Century21 Hearst Realty
GinaFagnani@aol.com