Alright before I get too far, I know this isn't the home buying message board, but you ladies have great advice for life in general, so I'm guessing you will have some awesome advice for this as well.
H and I just saw a house that we LOVE. It's the first one where I didn't think, 'Wow, I only have to put up with this for 5 years and then I can run'. And the only house that H and I both said we LOVED and were ready to pack to move in. It however, is at the top of our budget. Could we do it? Yes, but we don't want to eat ramen for the rest of our lives (over-exaggerating, but you get the idea

) For those of you who have bought your homes, or those who were on the selling side, is there a certain dollar amount or percentage of asking price at which you would not consider an offer serious? We are thinking of going in about $15,000 under asking price and negotiating from there. We would love to buy it for $10,000 under asking but with seller assist and a provision for additional monies to be used to bring a fire door up to code, and get laundry appliances. Are we totally insane for thinking that is possible? We are first time home buyers and are very new to the negotiations so please let me know what you think?? There is a good chance we will be writing our offer over the weekend and I don't want to get in and have zero idea of where to go. Should we start out lower than $15,000 below? Closer to $10,000 below? Ideas, thoughts, and questions welcome!

Thank you!!
Re: Home Buying Question
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This is totally dependent on the market in your area and the price of the house. In some places with very hot markets, any offer not at or above the asking price is not considered serious. In my area 10-15k under asking would be considered serious for a house above 130k or so but there'd be negotiation and the buyer would likely need to come up.
I'd check with your realtor. They should be able to give you a realistic picture of what a reasonable offer should be for that house.
Good luck! House hunting is the most fun and stressful thing ever!
Well, other than TTC of course...
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For example, there's a huge difference in offering $85k for a $100k list price vs offering $485 for a $500k house. Also if it just went on the market, they'll probably be less inclined to negotiate, whereas if it's been sitting for a while with no offers, they may be feeling desperate.
As far as making an offer, you'll never get a lower price than your initial offer, so you may want to go in low... But you don't want to turn the sellers off with an offer that's too low or be outbid if there are other offers on the table.
Are you working with a buyers agent? I would highly recommend it as a first time buyer. They'll be able to guide you through the process.
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And in terms of comparables, our Realtor told us that ours is middle of the road for all categories: Sold, For Sale, Under contract, etc. But the comps she sent us didn't seem too exciting to us. There were houses in worse condition that were priced above ours.
Another thing I should have mentioned was that we looked at the same floor plan house next door. It is also for sale at $15,000 less than THE house. The difference is in the updates. The house we love has all new dark wood laminate flooring throughout, a GORGEOUS updated kitchen, and 2 gutted and brand new bathrooms. Otherwise, they are completely the same house. If we bought the house next door, we would be offering far less than they're asking as well because we would need to do make it look as we wanted it. That's what also makes this harder.
And we do have an agent. She is helpful and gives us a run down of numbers and such, but I also like advice from people who have been at this point IRL. I want as much info as I can get my hands on before we go to the table.
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The plot thickens - Our agent called to set up a second viewing and the seller's agent said that there is another couple really interested in the property. Ugh! I suppose what is meant to be, will be, right? We'll see how Sunday goes with my dad going to see it. I hope he doesn't find anything awful. :-/
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