with the current state of things, I have heard to offer 20-25% below asking price. How realistic is this?

Asked by jaime, 11694 Thu Feb 26, 2009

I am currently looking in Nassau County, NY, specifically close to queens border in south Nassau county. With reasonable proprerty taxes.

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Jerri Furniss, , 43081
Thu Feb 26, 2009
In my market, it is not at all reasonable. However, real estate is "local" so maybe you are right. Regardless, it is very easy to determine a fair offer based on other sales in the area, and the condition and location of the home. Also, put yourself in the Seller's seat.....would you entertain your offer??

You must determine what the house is worth to you, and at what price are you willing to walk away- - - - 2 sides of the same coin.

Best of luck to you in your home seach!
Web Reference:  http://www.jerrifurniss.com
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Jeff, , Virginia Beach, VA
Thu Feb 26, 2009
Generally, you need to offer what the property is currently worth to you, not some arbitrary percentage off the asking price.

With that said, I see some properties in my area selling at an even greater than 25% discount from asking, although it's a little unusual. Generally sellers become defensive, disallusioned and a little crazy when the low offers come in, and many don't even have the equity to sell for the market price.

Make sure you know what the last sale price was so you can make an educated guess what the seller has in it.
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