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ST House selling thoughts needed. If you were selling your house, what the lowest % discount you would consider from a buyer?....

Posted by Walt_Disney (aka Walt_Disney) Mar 26 '15, 08:19

We are in the process of selling our house. It's priced about 5-8% below similar properties in the area that sold over the last year as it needs a couple of upgrades but nothing significant.

We have an offer from someone offering 10% less than our listed price, with no conditions attatched and a closing date in three weeks.

Its a three bedroom condo townhouse with about 1600 sq ft if that makes a difference to anyone's thoughts.

Thanks :)

Responses:

House flippers probably offer lots of low ball prices figuring they can upgrade and 'stage' it better and make 10-20% - zeitgeist Mar 26, 11:26
[deleted]
This behavior is apparently different in Canada than the US. Here, 80% of the ask is a reasonable first offer. - David Mar 26, 08:52 1
- Houses selling for more than ask varies by region and type of property. My place wouldn't sell for more than ask. -- nm - Beryllium Mar 26, 08:55
how quickly do you need the money? - znufrii Mar 26, 08:49 1
- Not prepared to wait five months for closing but willing to negotiate a bit. -- nm - Walt_Disney Mar 26, 09:02
I'd counter at 3% less. 10% is a pretty fierce lowball imo. -- nm - Shaun Mar 26, 08:27 1
- If they came in at 3% less, I would likely have gone with that. -- nm - Walt_Disney Mar 26, 09:03
I mean, you have to consider what the property is worth. and your initial pricing strategy. honestly ask your relator. - amanda Mar 26, 08:23
so an extra 2%-5%? take the deal. -- nm - decline Mar 26, 08:22

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ST House selling thoughts needed. If you were selling your house, what the lowest % discount you would consider from a buyer?....

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