Offer on a prop - good starting place? (agent, percentage, prices)

[HendrixStyle]

When making a first offer on a home, what percentage below the list price is a good starting place?

If there are any variables here, please let me know.

[Spottednikes]

In todays market, there will probably be multiple offers the first day or 2. Here, the offer needs to be at list or above.

[HendrixStyle]

Thanks.

Not talking today's market, which is an outlier.

Let's say, three years down the road, when we are in a buyer's market.

[MikeJaquish]

Originally Posted by HendrixStyle

Thanks.

Not talking today's market, which is an outlier.

Let's say, three years down the road, when we are in a buyer's market.

Make your offer on value and what you are willing to pay, not vs. list price. In any market.

[semispherical]

Originally Posted by HendrixStyle

When making a first offer on a home, what percentage below the list price is a good starting place?

If there are any variables here, please let me know.

Originally Posted by MikeJaquish

Make your offer on value and what you are willing to pay, not vs. list price. In any market.

I agree with Mike!

When I saw my current house, my agent told me there were several offers already above asking. The question I asked myself was "If this property was listed at $XXX,XXX (the amount I thought it would take to buy it), would I consider it a good deal?" The answer was "Yes" and I got the property at $12,000 over list.

[jackmichigan]

Originally Posted by HendrixStyle

When making a first offer on a home, what percentage below the list price is a good starting place?

If there are any variables here, please let me know.

Sorry, but there are no set formulas. There are plenty of variables. Many Sellers won't even bother to make a counter offer, so base any offer that you make on what you're willing to pay. Some list prices are also way too high; others could be low. Everything depends on the particular property and the particular listing, as well as the local market conditions.

[Diana Holbrook]

Originally Posted by HendrixStyle

If there are any variables here, please let me know.

If there are ANY variables?


There are ONLY variables.

[simplechamp]

I'd recommend offering anywhere between 50% and 150% of list price.

[jackmichigan]

Originally Posted by simplechamp

I'd recommend offering anywhere between 50% and 150% of list price.

That would usually work. But I once bought a property at 22% of the original list price, so even that broad range is not iron-clad.

[Rakin]

Originally Posted by simplechamp

I'd recommend offering anywhere between 50% and 150% of list price.

OP needs to come back in 2.95 years and ask this question.