Buying Home Negotiation: percent discount from list price

New
cafe-latte

New

PRE
Apple
cafe-lattemore
7d 14 Comments

I am checking home prices. I am wondering on average how many percent down i can negotiate.

what are the some arguments to use for supporting low offer?

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TOP 14 Comments
  • Oracle
    not_larry

    Oracle

    PRE
    Amazon
    not_larrymore
    “some arguments to use for supporting low offer?” : “look at my TC”. Which reminds me: TC?
    7d 0
  • Oracle elchappy
    You can actually just offer the same asking price and then when they accept it, hire a good inspector to get all the flaws that needs to be fixed including uneven slabs of flooring, leaking faucet, clogged drainage, missing screws on cabinet hinges, old windows frosting, hole on the wall,..anything you can deduct from the price. When I bought my house it was newly renovated but the inspector I hired is so good we found a lot of flaws.
    7d 0
  • Google əๅɓoo⅁
    List price is an arbitrary number, sometimes above market, sometimes below. It is just a marketing strategy.
    You don’t have to justify your offer.
    7d 0
  • New QTdN03
    In the suburbs of Seattle, you can generally only offer a minimum of +10% if you want the house. If they’re asking for $500k, then you better offer at least $550k because a dozen other people probably will.
    7d 2
    • Google PersonR
      Old news, it's not spring of 2018 now. Only 10% of houses in Seattle receive multiple offers according to Redfin.
      7d
    • New QTdN03
      That’s why I said “suburbs of Seattle.” Who on earth would want to live with those self-defeating lunatics within Seattle city limits? Next thing they’re gonna tax is breathing!
      7d
  • New VFcO68
    It depends where you live and if there is more supply or more demand. In Bay Area in general, people offers above asking price because there are more buyers than houses in the market. If you under offer, you won’t get the house. Looks like everybody knows it and they are ok been rip-off.
    7d 2
    • OpenTable Meliodas
      That is only true in parts of the Bay Area. Houses in Sonoma County, for example, are not going above list.
      7d
    • New VFcO68
      That is true but I bet OP is not trying to go Sonoma.
      7d
  • New
    cafe-latte

    New

    PRE
    Apple
    cafe-lattemore
    OP
    Thanks for the all good ideas.

    It does not make much sense to me offering more than what they ask.

    I am searching home in NY/NJ area. I am even seeing prices that goes down by itself. Some homes are listed in last 2/3 months.
    7d 1
    • Takeda Pharmaceutical / Ops Takeda
      If your life circumstances permit it, wait until the winter.

      You can get away with a low-ball offer if the alternative for the seller is waiting ~4 months to close a better deal
      4d
  • Facebook public2
    If the property is good you will need to offer about 5% above asking price to start :)
    7d 0
  • Grainger dSnr58
    The short answer is: it depends.

    Okay, I know it’s useless :)

    so here you go - Redfin has a tool that collects data from the past. You can simply go there and checkout the listing price and sold price of a specific zip code. Just google Redfin data research, and you should find it easily.

    It’s no secret. My agent showed me this tool. And it’s amazing.
    7d 0
  • Square / Legal
    llllla

    Square Legal

    PRE
    Facebook, Google
    lllllamore
    “That’s all I want to offer.”
    7d 0