What is an attractive offer on a house?

What is the lowest you can offer on a house?

It is tricky, but Michael Russell of Ratchet Straps USA emphasizes the importance of making sure a lowball offer doesn't insult the seller—if you want to be taken seriously as a buyer. “The rule I've always followed is to never go more than 25% below the listed price,” he says.

How do you politely offer a lower price?

Can I offer $100,000 less on a house?

As a buyer, you have every right to offer less than the asking price, if you feel it's too high. But the seller also has a right to reject your offer.

Is it a buyers or sellers market in 2024?

Despite the 30-year low, the market is showing signs of turning as home-buying picked up in the past month of 2024, said the National Association of Realtors, which released the data.

What is considered a reasonable offer?

Less than 10% below: If the property is in fair condition but requires some cosmetic repairs, this is a suitable price range. If the home is move-in ready and doesn't require any cosmetic updating, shoot for an offer closer to the asking price. This will decrease the chances of requiring a counteroffer.

Do sellers ever accept the first offer?

Most sellers hope to have multiple offers, but sometimes it's best to take the first offer you receive. It may be tempting to hold out for a better price when selling your home, especially when your home is newly listed.

What is the rule of thumb for making an offer on a house?

The rule of thumb is usually between 5 and 10 percent of the home price. Bear in mind that you could lose the money if the deal falls through, so it's important not to put up so much that you'd be ruined if you lost the cash.

How do you make a strongest offer on a house?

Do sellers usually go for highest offer?

In our experience, there have been countless scenarios where the highest offer wasn't the one accepted by the seller—This is because the highest offer isn't always the strongest buyer. Several factors come into play when considering an offer acceptance.

How to make your home offer more attractive?

Getting mortgage pre-approval, minimizing contingencies, and offering more earnest money will all make your offer more attractive. In the event of a bidding war, an escalation clause or a personal letter to the seller may help seal the deal.

What is a high value offer?

The Definition of an HVO: an interaction that provides such unique and timely business value that it compels a prospect to engage.

Should I buy a house now or wait until 2025?

You might benefit from waiting a few months, says Brian Rudderow, a real estate investor at HBR Colorado. "I'm personally holding off buying until later in the year, specifically fall of 2025, because mortgage rates are expected to drop again along with home prices.

Are housing prices going to go down?

Homebuyers and sellers should face easier conditions in 2025, but affordability will likely remain a challenge since mortgage rates are only expected to go down a little bit and home prices will continue to rise.

Who typically presents an offer to the seller?

This offer is typically delivered by the buyer's agent to the listing agent, and the listing agent passes on the offer to the seller. The listing agent's job is to help the seller make a decision as fast as possible without rushing them, as well as handle any negotiations.

Is it OK to offer 10% below asking price house?

Don't mix up offering under asking price and lowballing, either. It's often reasonable to offer 1 to 4 percent below asking price, but putting in an offer for half (or even 75 percent) of the home's list price is the best way to offend the seller and get your offer thrown in the trash.

What is considered a lowball offer on a house?

In general, I tell my buyer clients that a low-ball offer on a home is an offer that is more than 90% less than the asking price. That means that on that $800,000 home, a low-ball offer would be any offer of $720,000 or less.

How to counter offer on a house as a buyer?

Which of the following is typically not a good place to find a deal?

Final answer:

When searching for deals, locations like consignment shops, individual sellers, and online auctions are typically good choices. In contrast, malls usually offer less competitive pricing. Therefore, malls are typically not a good place to find a deal.

What is the batna strategy?

BATNA is an acronym that stands for Best Alternative To a Negotiated Agreement. It is defined as the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement cannot be made.