Question: Should You Offer Over Asking Price?

If this is the case, other buyers in the market will notice it, and will certainly bid the asking price.

If you want a chance of your offer being considered, you’ll need to bid higher than that.

There are always buyers available, especially for underpriced properties.

Should you offer more than asking price?

A good rule of thumb: “If houses are selling in your neighborhood in less than 10 days, it’s a strong seller’s market,” Lejeune says. In a strong seller’s market, Lejeune says, the final sales price is typically at least 10% higher than the asking price. (Your real estate agent can pull this data for you.)

Should you offer full asking price house?

From what I’ve gathered, there is a rule of thumb floating around that you should always offer less than the asking price when buying a house. Some people have even assigned arbitrary percentages to this rule. And some sellers will actually price their homes below market value, in order to sell as quickly as possible.

What is reasonable to offer below asking price?

When it’s reasonable to offer 1% to 4% or more below asking

Another instance where a buyer may offer 1% to 4% below asking is when there are multiple offers on the table, and sellers typically accept the highest offer.

Should you pay over appraised value?

Though there’s no law against paying more than a property’s appraised value, mortgage lenders almost never loan more than that value. In cases in which a property’s appraised value is less than sales price, the buyer and seller often find themselves in uncertain circumstances.