low balling

[N/A N/A]

For a typical lowball offer on a property that you fancy that is getting no bites how low do you start? I know many factors and specifics have to be determined on an individual basis and that they can destroy the merit of the question. Things such as how long has it been on the market , sellers needs and emotions and type of market. But I’m looking for an answer that satisfies the psychological angle. One that tells the seller I’m serious but gives me bargaining power for the potential deal.

I’m thinking 75-80% of asking price.

Thoughts?