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Old 11-08-2009, 11:09 AM
 
7 posts, read 17,142 times
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When making an offer to purchase, what is a reasonable offer to make,how many percent under asking price is fair? Example: a $100,000.00 asking price is $85,000.00-$89,000.00 a fair offer?
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Old 11-08-2009, 11:12 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,230,074 times
Reputation: 2661
Quote:
Originally Posted by c5corvette View Post
When making an offer to purchase, what is a reasonable offer to make,how many percent under asking price is fair? Example: a $100,000.00 asking price is $85,000.00-$89,000.00 a fair offer?

It is not that simple. The initial offer for a $100,000 list can range from as low as $60K to as much as $125K.

All depends...comps...kind of deal....who is selling.
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Old 11-08-2009, 02:20 PM
 
Location: Here and there, you decide.
12,908 posts, read 28,016,929 times
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$100k = $110k to start..
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Old 11-08-2009, 08:30 PM
 
7 posts, read 17,142 times
Reputation: 11
Default making an offer to purchase

I can understand offering more for a property than list price if there is a bidding war, but why would you offer over list when there are hundreds of homes and condos sitting empty and more going on the market daily.
Do you think there are that many buyers looking at the same property, when I look at how many homes, condos, and townhouses there are listed on all the web sites it is overwhelming.
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Old 11-08-2009, 08:47 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,230,074 times
Reputation: 2661
Quote:
Originally Posted by c5corvette View Post
I can understand offering more for a property than list price if there is a bidding war, but why would you offer over list when there are hundreds of homes and condos sitting empty and more going on the market daily.
Do you think there are that many buyers looking at the same property, when I look at how many homes, condos, and townhouses there are listed on all the web sites it is overwhelming.

Who died and left you in charge?

The object is to make a rational bid that represents what you think the place is worth. Then you win or not.

There is no one to game in this situation. In general the decision is being made by a low level clerical sitting at a computer terminal who looks to see who has the best offer. Even the intelligence provided most likely comes from the RE Agent feeding the computer system who may do such things as block high bids - because they will not appraise...and low bids because they yield too little.

You may, or may not, get a call for a best and final. You likely will not receive a counter offer unless it is an unusual property.

So take your best shot upfront and stick to it. This is not a dicker market.
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