What is a typical reduction from list price when making a non-contingent offer?
That depends on how close the asking price reflects the estimated market value. Some sellers price high……thinking they will have more room for negotiation. This is not the best strategy for a seller, but very common. Other sellers may price very low to obtain greater market attention. Even in a buyers market, it is possible for a seller to receive mulitple offers over list price. As a buyer, you can pay over list price, and still be getting a great deal. Don’t get hung up on percentages. Instead, focus on the comps for market value. A seller’s need to sell will also influence the price he/she is willing to accept. If the other terms of your offer are strong, your agent will have more to work with in negotiating a better price for you. The fact that you do not have a contignecy is one point in making your offer stronger…..and an important one. Property listed at 299K, mortgage balance 230K. Property foreclosed and became lender owned. Lender listed at 180K. As a buyer, would it be
