Home Buying in Eagle Rock>Question Details

Heather, Home Buyer in Glendale, CA

how much can you get a seller to bring down the list price for a home at 321k?

Asked by Heather, Glendale, CA Fri Aug 7, 2009

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Answers

8
Hi Heather !

That depends on how long the property has been on the market,if it is a brand new listing the seller may not come down very much,or it could sell at over list price with multiple bids .If the property has been on the market a long time then the seller should be able to bring down the price a bit ! Good Luck !
0 votes Thank Flag Link Mon Feb 17, 2014
okay, it fully depends on the sell person and your talking way...
Write down to the seller, giving your price , keeping in mind the property area etc.
Good luck
0 votes Thank Flag Link Sat Nov 13, 2010
Heather,

The seller may set the marketing price, but the buyer determines the closing price.

Regardless of the representations of get rich Gurus the vast majority of property sells at its true market price. If the seller could get more, they would, if the buyer could pay less for a comparable property they would. That said, as a buyer you need to know what the property is worth to the typical buyer. An experienced professional REALTOR should be able to tell you that number. If it is lower than the seller’s asking price, you can educate the seller and their agent as to how you arrived at a fair value that is lower than asking. Prices in many areas are trending down, this if proven to the seller, may allow you to negotiate a lower price than today's market.

Motivation plays a part. If the seller has some urgency an even lower price might be possible. I once represented a seller who expressed firm desire to sell within 90 days. Had shared his 90 day time frame was based upon required reporting to federal prison for 5 years, I would have advised being more aggressive earlier in the listing. Learning as much about why the seller wants or needs to sell will influence whether the seller will go below market value. Sellers are often not fully of the true condition, costs to repair, the impact of negative influences or market trends. Whether exclusively representing a buyer or buying for my own account, educating the seller selling my view of value supporting the buyer’s offer is fair and reasonable a large part of the process. In most instances the seller’s agent isn’t paid unless an offer is accepted. I find many seller’s agents weak at protecting the seller’s interest when doing so costs them money. Your strong analysis and persuasive presentation will result in a strong purchase. Good luck!
0 votes Thank Flag Link Wed Nov 10, 2010
well, it totally depends on the seller's and your talking.
Write down to the seller, giving your price , keeping in mind the property area, location & the amount that seller has plot.
best of luck
0 votes Thank Flag Link Wed Nov 10, 2010
Heather,

The amount a sellers is willing to decrease their asking price, in most cases, is tied directly to their personal level of motivation and the local real estate market activity.

A local real estate professional will be able to assist you by providing you with the necessary information on which to base any offer. Offers that stand the best chances of being accepted are based on recent local market activity. Be sure your offer is one that can be supported by factual RE information.

Good luck
0 votes Thank Flag Link Sun Aug 9, 2009
Hi Heather,

The only real answer to this question is to write an offer and see the results, everything else is just speculation. Best of luck.
0 votes Thank Flag Link Fri Aug 7, 2009
Dear Heather,
That depends upon the motivation of the seller, the comps in the area,the condition and location of the home.We would need more details in order to advise you on an offer price.
0 votes Thank Flag Link Fri Aug 7, 2009
Hi Heather.

There is no one answer to your question. There are many influences on the listing price of a home and how much a seller is willing to move down on price.

Those influences include:

Who the seller is. Bank, Individual, Corporation
What is owed on the property.
Condition of the property.
Location of the property.
The realistic expectations of the sellers as compared to true market value.

These are just a few of the influences on pricing. Hopefully, this will helpfully help you assess this question. Also, you did not state whether you were looking at this from a buyer or seller point of view. If you are a potential buyer, make sure you know what you can afford and be pre-qualified or pre-approved with a lender before making purchasing decisions. This way you will know what you are able to offer on every property you look into as a potential purchase.

If I may be of any further assistance to you, please feel free to email or call me directly.

Sincerely,

Matt McClain
Axiom Real Estate / Axiom Lending Group
626-354-3813
socalrealtorforyou@yahoo.com
http://www.socalrealtorforyou.com
http://www.socalluxuryestates.net
0 votes Thank Flag Link Fri Aug 7, 2009
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