It is very common for a house that is already priced low to sell for above the asking price. Keep that in mind if you see a house you really want.
If a house has been on the market a long time and is overpriced, you can offer low and often get it. If a house is new on the market and fairly priced and you offer low, your offer will most likely not be accepted.
Paying more than asking can often be a better deal than getting an overpriced house for less than asking. I know that is common sense, but it is hard to remember when looking at houses. We all want a great deal, and we have been conditioned to think we should not have to pay asking price for anything.
We wait for a sale to buy our cars, sheets, and clothes. We stock up on staples when they go on sale. With houses, pricing is more complex.
If a bank is selling a foreclosed house, they look at the bottom line. If you are asking them to pay closing costs, you may wish to offer a higher price to compensate. If the house is being sold by a traditional seller, including a letter of what you like about their home and how you envision your family in their home may help you get a lower offer accepted. This is especially true if the seller is sentimental about leaving the home they filled with memories or if they already moved and may be making two house payments.
Bottom line: make the offer one where you will feel good if you get the house and you will feel good if you don't.
If a house has been on the market a long time and is overpriced, you can offer low and often get it. If a house is new on the market and fairly priced and you offer low, your offer will most likely not be accepted.
Paying more than asking can often be a better deal than getting an overpriced house for less than asking. I know that is common sense, but it is hard to remember when looking at houses. We all want a great deal, and we have been conditioned to think we should not have to pay asking price for anything.
We wait for a sale to buy our cars, sheets, and clothes. We stock up on staples when they go on sale. With houses, pricing is more complex.
If a bank is selling a foreclosed house, they look at the bottom line. If you are asking them to pay closing costs, you may wish to offer a higher price to compensate. If the house is being sold by a traditional seller, including a letter of what you like about their home and how you envision your family in their home may help you get a lower offer accepted. This is especially true if the seller is sentimental about leaving the home they filled with memories or if they already moved and may be making two house payments.
Bottom line: make the offer one where you will feel good if you get the house and you will feel good if you don't.