What will the seller accept in Mount Prospect for their home?
Yes we can send a low ball offer!
this is an offer that would be way below listing price. I have sent some low balls knowing the outcome and showing the buyers that even they wouldn't get a 30% discount of the current list price.
A few months ago an average accepted offer for an REO (foreclosed property) was 7% to a listing price. That is a national number that banks are accepting.
Most of the properties on the market are priced to sell. Someone made a comparable market analysis before the home went on the market.
On this image below, we can see what was accepted in Mount Prospect, IL to the original listing price.
Traditional home sales, REO and Short Sales were sold for 10% less than the original sales price in Mount Prospect.
I mentioned original listing price a few times, so we do not get confused to the current listing price. Property may change the price but the percentage shown here is to the first price.
As you see illustrated here, Short Sales in Mount Prospect are sold for a bit less than tradional sale and REO to the listing price.
Can you send a low offer? Of course you can, but ...... will they really discount that deep?
The national avarage is 7% of the listing price.