How Far Above The Asking Price Are You Willing To Go?


How Far Above The Asking Price Are You Willing To Go?
By Scott Rogers • April 29, 2021
In some long forgotten distance past era I might have asked a buyer if they thought they were willing to] pay the asking price for a house that was recently listed for sale. Now, the question is a bit different. It is more often a question of how far above the asking price you are willing to go when you make an offer. When you are competing with so many other home buyers who are also planning to make an offer it quickly becomes a question of which buyer is willing to pay the highest price for a particular property. Sometimes that top price is guided by past sales prices but more often than not in the current market buyers are deciding that they are willing to pay more than other recent buyers have paid for similar properties. Escalation clauses are being used in many if not most offers these days to allow a buyer to offer one price but commit to increasing their offer to exceed the offering price from other buyers. It is okay to get excited about a list price of a new listing but keep in mind that these days you probably won't be paying that price, you will be paying some amount above that price. Thus, start thinking early about how far above the asking price you are willing to go. Receive Updates by Email Recent Articles: Will Your Offer Terms Cause The Seller To Say YES Or To Seek Other Offers? The Comfortable Feel Of An Established Neighborhood Might Come With, Surprise, An Older Home That Needs Some Updates Home Sellers And Buyers Will Often Disagree About Needed Updates You Cannot Hear Traffic On A Nearby Road By Looking At Photos Last Call (Just About) For Selling Your Home In 2024! Sometimes An Offer Is So Strong A Seller Will Not Wait For Other Imminent Offers If You Will Be Moving To Sunnyside, VMRC Or Bridgewater Retirement Community, We Should Talk Sooner Than Later Sometimes It Makes Sense To Just Adopt The Timetable The Seller Prefers Fewer And Fewer Resale, Detached, Homes Selling In City Of Harrisonburg The Next Owner Of Your Home Might Love Different Parts Of It For Different Reasons, And That Is OK!
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Oct 31, 2024 (unless otherwise noted).
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