What factors affect how much a seller will come down and what makes a good offer?
1. Length of time on the market is the number one factor in determining how much a seller will come off their asking price.
If the house has been on the market less than two weeks, don't expect a seller to come off their price much.
Whereas, if a house has been on the market six months or more without a recent price reduction, then making an offer 10% below asking price might be accepted by the seller.
2. Market analysis is the second factor.
If the house is priced right compared to recent sales then don't expect the seller to have to come off their price by much.
Whereas, if there is no sales data to support the sellers asking price then there will be more negotiating room.
How do you know the length of time a house has been on the market and what comparable homes have sold for? Work with a professional REALTOR. List your home for sale with me and I will prepare a professional home valuation and marketing plan to help you get the best price for your home within a time frame that is acceptable to you.