What is a reasonable offer below the asking price of a property?

It really depends on many factors:

  1. What are buyers paying for similar properties?
  2. What’s the current demand and competition for this particular property?

In many cases right now buyers are lucky to pay full price for a home and get it. We had one property recently that had 20 offers and sold for more than $150,000 over the asking price. In this case, even if you offered the asking price you didn’t even have a chance!

It all depends on your specific market and any particular property. Work with a knowledgeable local agent who can guide you about the right iitial offering price.

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