Should You Offer More or Less on a House Asking Price?

The truth is, if you go in with a lowball offer on a house, you could risk offending the sellers—and having them write you off completely. In short, how to make an offer on a house is all about striking the right bal… See more

CouponFollow Extension

FAQs about Should You Offer More or Less on a House Asking Price? Coupon?

How much to offer on a house?

How much to offer on a house will depend on many factors: the market you’re in, the property’s list price, how long it’s been on the market, and more. Of course, every homebuyer wants to score a deal. Even a small price cut can make a big difference to those monthly mortgage payments. But it’s not uncommon for bargain-hunting tactics to fail. ...

What should I consider when making a home offer?

When making an offer, the first thing to consider is the local market conditions. Market conditions depend on the number of homes for sale and the number of buyers. If there are more buyers than there are homes available to purchase, you may need to make a higher offer to beat out the competition. ...

How do I make an offer on a house?

Your offer should be in the form of a purchase and sale agreement. Your agent will draft this for you and you’ll sign or e-sign before it’s submitted. If your offer differs substantially from the asking price, you should consider including a letter summarizing the market conditions or comparative market analyses that led to your offer. ...

When should you make a low offer?

Here’s when you might want to make an offer that’s lower or higher than the list price or right at the asking price. A low offer might be appropriate… If you’re in a solid buyer’s market, sellers will be more likely to accept your lower offer, and you’re in a good position to make one. ...

Should you make an offer on a house that has been on the market?

Making an offer on a house that has been on the market a long time could be a gamble that pays off if you’re looking to score a deal. “By paying attention to the property history, you can get a better idea of the demand for that house,” notes Jennifer Carlson of Coldwell Banker in East Greenwich, RI. “Two days on the market? ...

How do you negotiate a home offer?

If you need room to negotiate, make your offer lower than the maximum price you’re willing or able to pay. In a sellers’ market, where homes are selling quickly and over list price, that may mean shopping for listings below what you can afford. ...