When making an offer on a house/condo, what is a good percentage off the asking price to aim for?

Typically, 5% is considered a 'good offer' depending on if you are asking for any concessions (ie: closing cost credit, home warranty, etc.).

There are 2 things to do first. 1. Get pre-qualified by a bank. This may cost a few dollars, usually $50 or so, but it tells the seller and the real estate agents they're not wasting their time with you. 2. Get a real estate agent. The agent will run comps for you, and explain how they adjust the sales prices to accommodate differences in the properties. You can offer whatever you want, but if the listing price is close to the actual value of the home, and you offer $30k less than the tax value, you're likely to tick the seller off. This is his HOME, not just a piece of property and seller sometimes take the offer personally. "I'm not going to GIVE the home away!" I can't tell you how many times I heard that even when the offer was reasonable. Be sure to include a time frame for response when you make an offer. 24 hours is reasonable here, but your agent will know what's standard where you live. The sites are general, and the local custom where you live may be completely different from where I live. Some places the sellers expect to pay certain closing costs, and other places they'd be outraged if you ask. You need an expert in real estate for your town...that's the real estate agent.

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RE:

When making an offer on a house/condo, what is a good percentage off the asking price to aim for?

Just as a guideline when looking at house prices to determine what I can afford vs. the asking price. I would be looking to get the best deal, of course, but I don't want to appear greedy, ignorant or insulting to the seller. Is there a percentage range that's considered reasonable in the...

this is the first time in 30 years the buyers have some power.

95% is good target but only if home is priced well.

Some homes will ultimately have list prices reduced 15-20% so be careful you are not making offer too early.

This is a buyer's market so go between 8-10% of the asking price..You can also ask for help on closing cost..I know you don't want to appear greedy or insulting, but alot of people are not buying,they will work with you belive it.

if you were to hire a buyer's agent and never accept a dual agency

agreement, you will get a good deal on any house/condo you want to buy.

trust me