If I have found a house I want to make an offer on what % of asking price should I offer?

Asked by Carol R, Hull, GA Tue Apr 19, 2011

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4
NA, Home Seller, Nowell Court, Springfield, FL
Tue Apr 19, 2011
You should offer A: no more than you can afford B: no more than a fair market price based on comparables and typical $/sq foot C: even less than that if you have any reason to think you can get away with a lower price (bad situation and need to sell). You need someone who can help you determine all these things, call me and I'll get you set up. (404) 590-4928
Web Reference:  http://sellearth.com
0 votes
Ron Rovtar, Agent, Boulder, CO
Tue Apr 19, 2011
Hi Carol:

There really is no firm answer to this question. It all depends on how the asking price reflects the market in your area. If the asking price is low when compared to recent sales of similar homes in the same area, you may be getting a bargain at the asking price so you might want to start and end there. If the price is very high, a bid of 10 or even 20 percent below the ask could be called for. The best thing you can do is to look at recent home sales of similar properties in the area and see how the asking price compares to the prices those homes fetched. Generally, you will have a better idea about what these "comparables" really mean if you look them over with a real estate agent or an appraiser.

Best,
Ron
0 votes
Bill Eckler, Agent, Venice, FL
Tue Apr 19, 2011
Carol,

If you are serious about this home, your offer should be based upon much more that a percentage that someone pulls out of the air.

One of the many services provided by real estate professionals is pricing advice and recommendations. Successful offers should be based on the current activity in the local market. An agent that has an expertise for your market will best be able to provide you with this information.

Best wishes with your offer.

Bill
0 votes
Shane Willis, Agent, Pensacola, FL
Tue Apr 19, 2011
Depends on what the sold price versus listed price is in your area. our agent should be able to tell you that. I know here 85-90% is normal and sales are closer to 95% of listing price
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