Newsflash: When buying a house what percentage below asking price would you consider a good starting point? Conversely, if selling, what percentage below asking would you start to feel insulted?

I’m in the process of buying a new house and I figured I’d ask for others’ thoughts on making offers. Obviously you don’t want to start your offer too high, but you also don’t want to offend the seller so much that they stop negotiating with you. This is my attempt to find a nice middle ground to help with making an offer so that I come in low enough to settle on a good deal, but don’t insult anyone out of negotiations. Basically I’d like to learn at what point others feel offers become unreasonable (10% below, 20% below, etc.)To give you some background, my market is a sellers’ market, but probably not as hot as some places in the country. Houses are sitting on the market for about 2-4 weeks on average. Generally, I’m seeing houses sell for 5-15% below asking. I haven’t been seeing houses go for above asking.I’m a strong buyer who is preapproved and can close in 30 days with no contingencies (will be turning my current house into a rental). I’m not emotionally attached to anything, the price I get the house for is just as important to me as its features. If it matters I’m looking in the 300-350K range.

Read more at https://www.reddit.com/r/RealEstate/comments/6enkov/when_buying_a_house_what_percentage_below_asking/?utm_source=ifttt

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