“My wife and I own a condo in P.B. and want to move to a house in La Jolla, Del Mar, & Carmel Valley. Since we haven’t bought a home for many years, I don’t know how much below list price to offer when we find a home. What do you suggest?”
Answer:
Good question. There are no rules of thumb like “always offer 5% below asking price.” That could cause you to miss out on well-priced homes and over-pay for over-priced homes.
How much you should offer depends on:
In a strong market, you may need to offer full price or more if a home is priced right. But if it’s slow or the home is over-priced, you should be able to get the price down if the seller is realistic.
Don’t get stuck on some formula that ONLY considers list price.
