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If they laugh In your face, the offer is too low.
Odd market at the moment, as some areas are going well over asking.
I’d Say a good initial offer is approx 10% less than their asking, backed up by the lack of agent fees that they will be paying. If they are keen, they should indicate (you can suss out) then what they might be expecting.
When rejected, you can go back to them with reasons why you think it is worth less than their asking, and take another 1 - 1.5% off (lack of agent fees)
Acliff
Yeah but I don't know if they want a quick sale. So I could start low ball and then waste a bunch of our time waiting to see where they stop raising to. But if they're gonna stick to asking price, why bother?
I'm not paying their asking price.