Buyers in this market often wonder how much to offer on a house they want to buy.
Some just wildly assume they can offer 10% or 20% or 30% less than list price.
Others have read an article in the paper that they should offer less than 10% of list price, and buy for no more than 90% of list price.
Others just don't know what to do.
What should you offer? If you want the house, then offer fair market value.
We will look at what comparable homes have recently sold for. We will create a market analysis for the property and determine its current market value. That's what you should offer.
If the home is priced 10% - 20% over the fair market value, then it is safe to assume that the sellers will not accept an offer of fair market value. We can give it a shot, but it's probably best to keep looking.
Sellers who are unrealistic about their list price are not going to suddenly become realistic when presented with an offer at fair market value. In fact, they will probably be insulted by your offer and then refuse to negotiate.
Let's focus our search on homes that are priced fairly.
In the Greater Danbury area, homes are selling, on average, for 95% - 97% of their list price.
Homes that are overpriced just don't sell. Unrealistic sellers will still be sellers in 6 months...12 months...18 months or more.
Spend your time wisely. Make your offers wisely. And buy your new home!
Don Fabrizio-Garcia, REALTOR
Connecticut Real Estate & Appraisals
Keller Williams CT Realty
203.746.1199
Connecticut Real Estate and Homes for Sale
Thanks Don for the informational post.
Don,great post! Can I take you along on my listing appointments? LOL
Sonya - You're very welcome.
Cheryl - I see you're located on the water, so... Sure! Why not?