The price paid is determined by, believe it or not, only a few factors in most cases Buying and reselling houses is my business and I have been doing this for many years. On average, I complete about ten deals each year. Factor number # is determined by how much the BUYER wants the house and is willing to pay. The other important factor is, you guessed it, how bad does the SELLER wants and needs to sell the property. My first offer is normally twenty percent less than asking price with an offer to close in ten days., no strings attached. Then the ball is in the seller's court.