how low can my offer amount be

[Abe Woods]

I am new to the CRE market. I saw a property (It is in the NJ/Phili. area) that interests me, with a list price of 2.25M. I cant find any guidance as to how much is the least I can offer and still be taken seriously. Meaning, lets say I feel I would buy it for 2.1M. but of course I would rather pay less, the least possible, obviously. If I offer 85% of asking (1.9M), am I being to greedy and risk turning the seller off? or is that still within the "normal" negotiating range? as they say "how low can I go"?

Thank you in advance,

[Kenneth Garrett]

@Abe Woods

There is no magic formula.  I would provide a justification as to the reason for the low  offer.  The asking price is irrelevant.  It only matters what you are willing to pay for a property.  If the seller is offended not much you can do about that.  It’s just business.

Good Luck.