While there can often be room to negotiate on a home's price, it’s best to be cautious when making an offer below the asking price. Here are a few tips to keep in mind as you craft your offer:
- In a buyer-friendly market you’ll have the flexibility to come in under asking. That said, it’s a good idea to keep your offer within 10% of the seller’s asking price.
- Tour the property to help you get a better idea of what the home is worth/what you’d be willing to pay for it. If you submit a low ball blind offer (an offer submitted without viewing the property), the seller may not regard you as a serious buyer and forego negotiations altogether.
- Take a look at comps (or what comparable houses in the area are selling for right now). This will give you an idea of what other buyers are paying in the area and a ballpark of what the seller might expect to sell for.
Can Opendoor assist me with pricing?
Absolutely! Your buying agent can review your offer with you and help you settle on a price and terms that will be budget and seller-friendly.