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General Jay
General Jay, Problem Solver
Category: General
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Experience:  General contractor, project manager, excellent problem solving skills, retired professional athlete.
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hi. if a house or condo is listed at a starting price, is that

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hi. if a house or condo is listed at a starting price, is that price usually negotiable? is that the price they are hoping for, but will go lower? is there an average of how much lower? or is it best to check out similar sales and negotiate based on that?

also, how do you find out what similar homes sold for? is there a website that will give you in one place that info?

thank you

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The listing starting price is usually negotiable. Most people selling a property expect that a potential buyer is going to make an offer less than the listing price. Unless there is an extremely high demand for a particular house or condo, a seller will have a price less than the listing price that they are willing to accept.

 

If you want to know what homes have sold for in a similar area then you will want to look at comparables. Your real estate agent will be able to provide you with asking prices and sale prices of homes or condos that are similar and what they have sold for. This is why they are called comparables.

 

This will be your best bet on making an offer. Find out how long certain properties have been on the market. The longer the time period, the better chance a seller will be willing to accept a lower asking price. Also find out what similar properties have sold for and this will give you a base line as to what is a reasonable offer to make.

 

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