Home Buying in 03106>Question Details

Omo, Home Buyer in New Hampshire

how much lower than asking price should i offer in concord, manchester and hooksettarea of nh?

Asked by Omo, New Hampshire Thu Feb 19, 2009

3/4 bed 2/2.5 bath listing price ranging from $240 000 - 290 000, hardwd floor in LR,

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Since southern NH was just rated # 18 for May 2015 in World News and Reports in the top twenty housing markets that are rising very very quickly and the interest rate will most likely go up in Sept. 2015 I would not be playing games or you may be without..Put yourself in the sellers shoes maybe that one property is priced correctly. Where do people get the idea every property is priced over ? Please consider a case by case assessment, not a general rule.....
0 votes Thank Flag Link Thu Jul 30, 2015
You ask, " how much lower than asking price should i offer in concord, manchester and hooksettarea of nh?
Looking at 3/4 bed 2/2.5 bath listing price ranging from $240 000 - 290 000, hardwd floor in LR?

And my answer is, how badly do you want to own the property?

One thing we do know, the seller will accept the full asking price.

If you want to offer a really low price be sure to ask your spouse, "how badly do we want to own the property we have seen, that we both like, and we could comfortably raise our children in"? Then ask. "what would we be able to afford to have a nearly perfect home?"

If you can afford the houses you are looking at, step up to the plate and offer the asking price, or something near asking. If you can't afford it, stop wasting the time of the agent, and stay where you are.

AND GET A BUYER'S AGENT, the service is free and your agent will navigate you through the mire of the purchase, and will help you craft an offer that may well be accepted.

It seems that you are a first time buyer. That may save you some money at the mortgage company. But your question is one that you need to deal with privately--and not ask the real estate community. The lower you go, the more you will insult the seller.

Good luck with your purchase.

Dane Hahn
0 votes Thank Flag Link Fri Feb 20, 2009
It depends on the motivations, market position in the town and other factors. So there is no across the board answer. Tha's where a good buyer agent can help. He/she can do a market analysis for you to determine the average and median asking prices with the market your interested. Also advise you based on experiences over the years of what he/she has seen. Sellers do expect low ball offers these days. If they counter and they will it may only be a small amount. Basically saying we'll play but now it's your turn. Also consider how you want the offer structured, is the seller paying some of your closing costs, can you close quickly, are you qualified and ready to close.....all those factors play a role in your offer
Put my 30 years of experience to work for you, no long term buyer agent contracts to sign, only a property specific one for that property only. you decide you want to work with me or not. gbrooks@habsrealestategroup if you want my help
0 votes Thank Flag Link Thu Feb 19, 2009
This is not a question I could just answer with an amount. Your Real Estate Agent would talk with you about the property, would advice you on comparisons sold, maybe your agent noted some visible signs of problems with the home and would discuss those with you. All these reasons or some may affect the offering price, there are many areas which a good agent would be able to help you with your decision on what you want to pay for the home. Another example would be perhaps a seller had priced the property at a great price for whatever reason, but a price buyers would jump at. In this case sometimes this would bring multiple offers or not, at this point your agent would work with you on how you can purchase this home. Sometimes when this happens a lower price may not get you that home. Hope this helps.........
0 votes Thank Flag Link Thu Feb 19, 2009

As someone who grew up in Manchester and Derry with family still in Hooksett, I'm really familiar with the area, but not enough to answer this answer truthfully. I do have advise though...

If your purchasing on your own without the aid of a buyers agent (they are free ya know, the seller usually pays their commissions) I would consult an agent in that area. Possibly 2. One in Manchester and another in Concord. They both should know information in the hooksett area and can give you a list of comprable properites so you can make a sound decision on what you should offer.

Remember, we're consultants and providers of information so you are educated enough to make hard decisions like these.

If you don't have an agent to represent you, I know quite a few really good ones up there that will be happy to assist you! Let me know if I can help!

Daniele Summerfield
Wilkinson & Associates
0 votes Thank Flag Link Thu Feb 19, 2009
It would not be correct to give you a general answer because it all depends on how the house is priced. If I tell you that you could go in 5% below list price and the house is listed way above its market value I would be giving you bad advice. The best thing to do is to find out what comparable properties have sold for in the same area in the last few months. That will tell you what the value of the value of the house is. Then you can determine what to offer. An agent can help you with this.

Now for the short answer. On average, in our area, houses have been selling for about 6% less than list price. But again I would not advise you to apply this to the specific house you are interested in.

If I can clarify this or assist you in any way please let me know.
0 votes Thank Flag Link Thu Feb 19, 2009

This is such a general question and can not be answered easily. Factors such as how long a property has been on the market as well as how much you like and/or want the property must be considered. A low offer could be flat out rejected or it may help the seller to justify accepting another offer that is not as low as yours. My advice is to discuss the specifics with your real estate agent.

Please let me know if I can help further...

Thanks, Lee

Lee P. Johansen
BH&G, The Masiello Group / Bedford
72 South River Road
Bedford, NH 03110
Cell: 603-315-0739
Fax: 603-628-6300
Office: 603-625-2800 X310
E-Mail: Lee@LeeJohansen.com
Web: http://leejohansen.com
0 votes Thank Flag Link Thu Feb 19, 2009
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