Let's say I buy a townhouse in Chicago - what percentage do you offer less.?

Question

What is the general rule?

Answer 1

General rules are baloney.  Get a real estate agent who will do a comparative market analysis by reviewing the sales prices of similar properties in the same area.  The agent will be able to advise you on what to offer.  This is not a normal market situation, and the authors who expounded those percentage theories were working under different circumstances.