That absolutely depends on how the property is priced in the first place. A thorough agent will show his buyer comparable sales for the current market so the buyer will have a very good idea of what similar houses have sold for in the recent past. A good price for the home can then be established based on that information and the current listing price, along with many other variables (who owns the home, what is currently owed, how low they can sell for, etc.) If a property is priced below current comparable sales, the buyer might want to offer asking price or perhaps a bit more, especially if there are multiple offers on the same property. If the property is very well priced, you might also do the same or try to get the price down a bit. Most properties that are overpriced today do not even get shown, let alone get any offers. Coming in way under asking price usually does not result in a successful acceptance of the buyer’s offer. A good agent will help advise you with proper pricing strategy in order to be most successful in purchasing the property for the best price.

Posted on Tuesday, January 27th, 2009 at 2:27 pm and is filed under Questions and Answers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.