Buying A Home
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Final Price vs. Asking Price
Hi All! DH and I have been house hunting for a few months and we finally found one that we want to make an offer on. The owner bought it in 2007 with the expectation of flipping it, but things got in the way and now he wants to sell. The house needs some cosmetic work and there are a handful of projects that he started and didn't finish. He said he would finish them, but we don't know if we trust that.
Now we are wondering how much below the asking price do we offer? I know that there are usually a few rounds of haggling before a final price is set. What is a sort of average difference between what people pay for their house vs. what they seller is asking??
Re: Final Price vs. Asking Price
Are you working with a realtor? They should be able to help you decide on a starting price and a price where you should end up.
A seller can make their list price whatever they want. It might not be even remotely reasonable so that house would sell much less of a % than someone who prices thir house in line with comps. So there's not an average anyone would be able to tell you.
Not only do you need to consider comps from the area but also the amount of interest in the house. In my local market a lot of homes are going above asking. We looked at a house that was listed at $239,000 is needed all new carpet, new paint, repair of an air bubbly/crack in the foundation and subsequent replacing of bathroom floor, several light fixtures, garage door repair, etc. It was listed about $5k below comps, had several offers and ended up selling for more than asking.
Our market is really crazy right now so it isn't representative of all markets but you need to take that factor in to consideration as well.
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