Leveraging time on the market in negotiations

[Traver Freeman]

I'm currently looking around at various properties for a personal residence. I am wanting to use time on the market as leverage for lowering the price, but I'm trying to find out at what point this would technique this will work.

Can anyone give me a break down of time on the market to likelihood of selling? In other words, at what point do sellers start getting nervous and become willing to go with your low offer as opposed to let it sit on the market a little longer. 6 weeks, 6 months, etc? And would that apply to short sales and foreclosures, or is the bank willing to let it sit until they get what they want?