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sheri, I think you did great. Of course you don't know if you could have gotten it for $5-10 less. Only the bank knows that. It's a risk you take. I can't wait until these lowball buyers go to sell their houses
People need to put their money where their mouth is ... otherwise, this is all just mental masturbation.
Again, I ask ... how many offers have you actually submitted? Did you put down a $1-$2K deposit for each of these offers? Because that's what it takes to actually bid on a home ... especially when you're dealing with the banks.
Do you have the cash to submit multiple offers with multiple deposits? If not ... are you willing to wait up to 30 days to get your money back ... or, even up to three months if it's a short sale/foreclosure?
Yeah ... 50K less was a lowball bid but, it was a reasonable low ball bid because that's what was offered before. I wouldn't tie up $2K of my cash for up to three months if I thought I didn't have a chance.
But I wasn't going to nickle and dime the bank over an extra 5-10K either because I know that what I'm bidding is an excellent price. That's also why I didn't try to get the bank to pay closing costs or anything else for that
matter.
I haven't submitted any offers yet because of my location overseas but when I do come to purchase a home which we be soon I will bid on however many it takes to get the right deal.. Yes I do have the money too will and deal so going back to what I said I have options lots of them but what does that have to do with what I said about lowballing the only different between you and me lowballing is you lowballed once and won I might have to put in a couple of bids to get my home or I might get lucky like you did with one lowball offer!!!!!
P.s. yours was a reasonable lowball!!!!!not a actual lowball?????? what's the different.....
I wish everyone would stop being so judgemental because as proven here everyone if given a chance will so call lowball!!!!!!!!!!!!!!EVERYONE.
I haven't submitted any offers yet because of my location overseas but when I do come to purchase a home which we be soon I will bid on however many it takes to get the right deal.. Yes I do have the money too will and deal so going back to what I said I have options lots of them but what does that have to do with what I said about lowballing the only different between you and me lowballing is you lowballed once and won I might have to put in a couple of bids to get my home or I might get lucky like you did with one lowball offer!!!!!
P.s. yours was a reasonable lowball!!!!!not a actual lowball?????? what's the different.....
I wish everyone would stop being so judgemental because as proven here everyone if given a chance will so call lowball!!!!!!!!!!!!!!EVERYONE.
No, not everyone. Your ideal about offering 50% less is not all that realistic even in this market. You are just looking to steal some property.
sheri, I think you did great. Of course you don't know if you could have gotten it for $5-10 less. Only the bank knows that. It's a risk you take. I can't wait until these lowball buyers go to sell their houses
Your friend sheri was a lowballer why would you have to wait!!!!!!!!!!!!!!!
No, not everyone. Your ideal about offering 50% less is not all that realistic even in this market. You are just looking to steal some property.
Steal????? first off I don't steal second off if it was giving to me for 50% off of course I would be buying it. The only point I am trying to make ladies/gentlemen is WHO KNOWS WHAT PERCENT IS CONSIDERED A LOWBALL!!!!!
Steal????? first off I don't steal second off if it was giving to me for 50% off of course I would be buying it. The only point I am trying to make ladies/gentlemen is WHO KNOWS WHAT PERCENT IS CONSIDERED A LOWBALL!!!!!
You can use the comps on recent properties and know if you are offering a lowball offer. You are going to waste a lot of people's time including your own.
Lowball offers are all based on opinion. I don't think there's a hard number BUT if it's out of the market range then I guess it might be considered a lowball. So if the market range of a house is 500K-550K (with supported comps) and the house is going for 500K then a buyer offering 400K would probably not get much of my generosity. I would just think they are not that serious but I would still counter... with 495K.
The problem with lowball offers is you start the negotiation off on a bad note. You can still get a good price on a house without being greedy... the point of negotiation is to have BOTH parties walk away as satisfied with the deal as possible.
Unless a house is priced really poorly... in most cases 50% off would be a serious lowball in my area. One of our property is worth (even in this market) between 600K and 650K... a 300-325K offer would surely be a joke and not even worth the paper to counter offer.
You can use the comps on recent properties and know if you are offering a lowball offer. You are going to waste a lot of people's time including your own.
Well as long as it just wasting someone time for the trade off of trying to save money!!! I thought it was a crime up in here!!!!WoW thank you!!
Unless a house is priced really poorly... in most cases 50% off would be a serious lowball in my area. One of our property is worth (even in this market) between 600K and 650K... a 300-325K offer would surely be a joke and not even worth the paper to counter offer.
See I agree!!!!!!!!!!!!!!!! that will be a joke. but on the reverse side the houses in most cases where priced 30% higher then what it was worth anyways so offering maybe 580-585k would be a sweet deal for seller/buyer. I would buy/sell.
Every home we have purchased, including the one we are now in and selling, we have offered near the asking price. For one, the comps all supported the asking price, and second, to otherwise would have just alienated the sellers and I guess I am silly, but I don't want just 'any' house. I want 'my' house...so seller and buyer get a fair deal, everyone wins. Our present home is actually priced at the bottom range of the comps, we are asking 469, comps are anywhere from 450-499. Our home is not a tract home, these are all custom homes...similar, sure, but every one is different..we have some things in our home that the others dont for the most part. We have a guest casita. We have a spa in the backyard, not many pools here due to the communty pools at the clubhouse. We put in artificial turf and landscaping in the back, and the front has grass and lovely landscaping. Most of the comps are new homes standing empty, which means landscaping, window coverings, etc. That adds to the price tag of a home, big time and I don't think people realize that. We have a view, most of the others are in nice neighborhood, too, but flat terrain. We'll see, but I think an offer in the 450 range would be fair. Lowball to me would be anything below 440. But of course we would counter, if someone took the time to write an offer, we can counter. This market is just a mess but when we buy next time we will try to be fair again.
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but on the reverse side the houses in most cases where priced 30% higher then what it was worth anyways so offering maybe 580-585k would be a sweet deal for seller/buyer. I would buy/sell.