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Christina Said:

when I make an offer on a home on average how much below asking price will they sell to me?

We Answered:

This is a critical mistake . . . do not make it. Home value is completely arbitrary (much like stock value). You could value a home in dog biscuits and still have the same effect . . . Monetary value is assigned on an arbitrary basis . . . Any given object is only worth what someone is willing to pay for it . . . not most likely to pay for it . . . nor based on prior sales . . . it is only worth what someone with real cash is willing to pay for it . . . I'm not sure if your putting 20% down in cash . . . or hoping to utilize equity. If your hoping to utilize equity . . . those loans are generally no longer available with the exception of refinance. If you are putting 20% cash down, I would suggest looking at homes $130,000.00 and under. I would also suggest that you do not consider any home that has been on the market less than six months and further confine your search to homes that are vacant . . . Good luck.


Do not listen to people or agents who want you to put in a reasonable offer - remember you are trying to buy a house not a specific house. Houses are a dime a dozen and you will be just as likely to love one home as you are another. This is a financial decision and not an emotional one. Money is always a dog eat dog scenario. Do not let a well intentioned agent mislead you . . . you are the only one responsible for your economic survival. I seriously doubt your agent has any intentions of ever making your house payment.