Now if you are already in contract and seeing if a price can be any lower, this will depend. If during your investigation you have found certain items you were not made aware of until your investigation you certainly have a right to ask the seller to lower his price.
Again, not knowing the full context of your question, it is slightly difficult to answer. If you need to know more specifics I would be happy to try to assist. Please do not hesitate to contact me. Rose Nied, Alain Pinel Realtors, (510) 530 7011
When you are ready to put in an offer on a home, your Realtor should do the comps on the home to determine what the current fair market value in the neighborhood for similar homes in similar condition with similar amenities and in a similar location (ie does it back to the dump, is it on a busy street, or does it back to 20 acres of common ground), then you should use that as your guide for what you offer on the home. Keep in mind as you do so, at what point you would hate to lose the home to someone else putting in an offer on the home that is just over yours - it can be better to start out at a fair price that is a win - win for everyone then to start out with a really low ball offer and then do a lot of negotiating back and forth to get to the same position over several days. At the end of the negotiations, the seller should feel that they are getting a fair price for their home and you should feel that you are getting a fair price for the home, if either side feels that they are being taken advantage of, the rest of the deal will not go smoothly.