I'm preparing to make an offer on a house. I plan to offer 10% less than my maximum offer. Hypothetically if you made an offer on a house and they countered with your maximum would you accept it or would accept it or make another offer for a little less?
@Thomas Robb It depends on how hot the market is. Look at the average days on market for similar homes and let that be your guide.
@Thomas Robb What we don't know in this equation is how much your initial offer is off their asking price. The best thing to do in this case in my experiences is to do exactly what you plan on doing. Offer below your maximum offer to leave room for negotiating and hope for the best.
The bottom line is, you will not know how receptive the seller is to coming down in price until your offer, contingencies, and terms are in front of them. Once they counter initially it usually becomes pretty clear if you are going to work towards a deal or if you are just to far apart.
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