Just curious before I speak with my agent and begin my hunt. If you notice a house that has been vacant for weeks, either in the current market or. How much is a reasonable offer? (First-time house buyer) Is it a slap in the face to offer $20–30k less if a home is $350,000–$400,000, for instance? Or is it situation by situation?
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It is not meant to be a smack in the face; if it is interpreted that way, that is sad, but it is nothing to be alarmed about. Please do not take it personally if the seller declines your offer.
When making an offer on a house that has been vacant for weeks and is listed between $350,000 to $400,000, it’s essential to consider several factors. First, assess the local market conditions and recent comparable sales (comps) of similar homes in the area. A reasonable offer typically ranges around 5-10% below the asking price, depending on factors like market demand, condition of the property, and the seller’s motivation. Offering $20,000 to $30,000 less than the asking price could be appropriate in some situations, especially if the property needs significant updates or repairs, or if it has been on the market for a while. However, every situation is unique, so it’s crucial to discuss your strategy with your real estate agent, who can provide insights based on local market dynamics and help you craft a competitive yet reasonable offer.
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To be honest, I would not come at you for bargaining. It is better to state what you can afford than what you cannot. If you do not speak your mind then someone else will make the decision for you. I would rather you reach a compromise. Remember that realtors are humans too