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.