What sort of price could I offer for a new home in Williamsburg, VA that is for sale by the builder that?

Question

has been sitting on the market for over a year. It start at around 800k and is now down to 630k. What would be lowest acceptable offer for this home?

Answer 1

Not   enough  info ,

If   it's  a  repo ,   the   bank  may  be  willing  to  unload  it  for  less ,

Or ,  it  could  be  a  seller  with  NO   finance  issues  and  will  not  let  it  go  go   for   less .

Remember  ,  Not  all  sellers   have  to  sell  and  will  ignore  offers  that   are  below  their  threshold .

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Answer 2

There is no set answer, but you need to find out what similiar places are listed and selling for (a good realtor should be able to get you a god estimate on this).  From info on other similiar places you can make your best guess offer.  Note that if there are lots of other places the builder needs to sell they hate lowering prices to much so don't expect a tremendous deal unless the guy is desperate (but if this is his last one - then maybe he'll be ready to deal).

Answer 3

Really you only have one way to find out.  Offer what ever you feel is a good deal and see if they accept.  The fact it has been a year means they are not hurting to sell.  Example is that we have a place in my area that has been on the market for 16 mos.  The seller/builder owns the property free and clear.  They do not intend on selling it until they get what they want.