Princeton Town Topics – Let’s Talk Real Estate – February 3, 2010
WHAT’S THE MAGIC NUMBER?
When you make an offer on a house your biggest decision is how much to offer. You want to pay a fair price, and sometimes it is hard to predict how much is enough for the sellers.
Some sellers price their homes at their bottom line and may be unwilling to negotiate, unless the house has been on the market for a long time. Others build in a little room for negotiation. Some sellers are more motivated than others to get their homes sold. Whatever your situation, it is hard to know what sellers will do until they are presented with an offer. If your bid is very low and the sellers have more attractive offers, they may just not respond. If your original proposal is unacceptable, the seller will usually make a counter offer. While sellers like to get their asking prices, good listing agents prepare them for the possibility of receiving offers that involve some compromises.
