When making an offer on an existing home, where does one start? I recall reading, quite sometime ago, one could figure the sales price would be about 50 to 65% of the asking price on the internet. Is that correct? In the USA (Midwest), homes sell for approximately 97% of the asking price and the first offer made is usually between 90 and 95% of asking.
We are looking for a modest, two to three bedroom, single family home, one or two bathrooms, hot water and a small yard. Asking prices for similiar homes in the Central Valley, range from about $75K to $135K (US dollars). These prices, of course, seem very reasonable compared to homes in Illinois. What is your opinion, as to what percentage the selling price is of the asking price?