Negotiating home prices??

Question

How much is the average price a seller will drop when negotiating a price? For example: If a house is listed for $180,000 what is the average selling price? Thanks!

-first time buyer :)

Answer 1

Varies wildly depending on the market and how desperate the seller is, among other things.  I just had an offer accepted that was almost half the list price (pats self on back) but in fairness prices have come way down in the listed area and the bank was outright desperate to get rid of the place (and it really was just a very good deal even with that cut, but not a great deal).  Still, if dealing with an individual in a fairly strong market then a 10% cut may be pushing it - still if you offer and they say no you have lost nothing, you just make another offer for more or punt.

Answer 2

It all depends on how much comprible homes sold for in that area in past 6 months, the condition of the home, etc.  I would suggest that you talk with your local Realtor.  They will be able to help you.  There is a lot that goes into making an offer on a home not just trying to get the cheapest price.  There is a saying that goes like this "The Cheap Comes Out Expensive."  Don't let that happen to you.  Do yourself a favor and seek professional council from your local Real Estate Agent.