How much UNDER the asking price do perspective buyers make their first offer?

Question

►I am the seller. I am merely asking for a ballpark guess.

Answer 1

depends

you have to do your homework

it's no set amount, some houses you should bid full price on

what is the market, what are comparable homes selling for

how is this home priced--high, low, right on the dot

how long did owners own home

how long has house been on market

have they decreased the price while listed

perspective is point of view, you mean prospective

Answer 2

It depends on the market, the  property itself and its comps.  If you are a serious buyer and and even want to be a contender, lowballing is never a good idea.  You can come in within 3 to 5 per cent and have the seller's attention.  Again, it depends on the above criteria and how motivated the seller is.  It would be best to talk with your agent to come up with a good offer.

Answer 3

20% below

Answer 4

You know, it really depends.  I bought my home for full price, but there was HUGE interest in the home, and I got it two days before it went on market.  And even so, somebody else was wanting to see the house and probably buy it as I was signing the contract.

Other times, if the house isn't very appealing, or has a lot of damage, you might be looking at a big cut.  If a house is way overpriced, buyers probably won't take you seriously.  And the market isn't very good right now, unfortunately.  Bigger houses aren't selling as well as smaller houses, from what my mom said, because people don't have as much expendable income.