Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Put in a bid for what you think the house is worth in comparison to similar nearby homes. If you bid to low then they would be likely insulted.
Like if there is a 4 bdr ranch going for $350,000 and there are other 4bdr ranches in the same condition, same neighborhood going for $330,000 then I think it would be safe to make a bid of $320,000. If you make a bid under $300k then that would upset them.
Who cares if you upset them. Go to mlsli.com and click on the sold homes area. Find a comparable house that sold recently in the area and that's your starting point.
I wouldn't underbid lower than 90% if you're really interested, otherwise the sellers won't take you seriously - and if it's a nice house you could lose it easily that way. If you're just somewhat interested and looking to possibly low ball, then bid whatever you want.
Like take this listing> http://www.mlsli.com/unidetailsredo_...tart=27&rpp=10
Here's a good candidate for low balling. That builder is going to take an absolute bath on that monstrosity. What a weird spot to put that house. I'm sure it's sick on the inside, but $27k taxes in that section, no one in their right mind is going to buy that for 999k. I'd look for that to sell around $600's. low 700s if they're lucky.
Like take this listing> MLSLI.com
Here's a good candidate for low balling. That builder is going to take an absolute bath on that monstrosity. What a weird spot to put that house. I'm sure it's sick on the inside, but $27k taxes in that section, no one in their right mind is going to buy that for 999k. I'd look for that to sell around $600's. low 700s if they're lucky.
They're asking more than twice what the highest priced house sold for in the recent past! It's assessed at $1 million
Looks like they paid a little over $400K at the top of the market, then rebuilt the whole house, so they're in it for more than they most likely will get. It was first listed in January of 2010, before it was finished - same asking price - and the market hasn't increased since then... And while they're waiting for a buyer, they'll have to start paying the hefty taxes
I don't understand what difference it makes if you upset the seller or not! If you upset them with a lowball offer and they are sssooooooo upset they don't even counter, then just offer more! Or walk away. Realtors like to create such drama! Same with lawyers!
I don't understand what difference it makes if you upset the seller or not! If you upset them with a lowball offer and they are sssooooooo upset they don't even counter, then just offer more! Or walk away. Realtors like to create such drama! Same with lawyers!
It's a matter of common courtesy, really. Say you're trying to sell something for $200 online, how would you feel getting emails from people going "I'll give you $80"? People like that deserve to be ignored at the very least.
Now if you make a fair offer and the seller gets "insulted," or they're asking for an insane pipedream price and you offer what you genuinely feel is fair, that's another story.
I don't understand what difference it makes if you upset the seller or not! If you upset them with a lowball offer and they are sssooooooo upset they don't even counter, then just offer more! Or walk away. Realtors like to create such drama! Same with lawyers!
LOL buyer's don't create drama?? Or sellers?
With regard to offers - it's our job as agents to present all offers, period.
We are in contract to buy. In our case we agreed to about 10% below asking.
Asking price is just that, asking. Most of the time the realtor has discussed the price with the seller, and consequently is priced to suit market conditions and sellers needs, but sometimes the sellers are stubborn and set the price to what they think it's worth. You can usually get the story by looking at the pricing history, and how long it's been on the market.
There is nothing as too low. When I went in to negotiate I offered what I thought is honestly fair minus 5-10%. This gave me wiggle room if they countered, and they did.
Everyone needs to put their emotions aside. This is a business transaction. You're not going to offend anyone, and nobody is going to get offended. Only thing bad that could happen is a few hours wasted. But how many houses have you looked at that you aren't going to bid on? So, no seller who is serious about selling is going to ignore an offer. Trust me, they are getting low balls that are far lower than yours from cash investors and contractors.
In my case, we could tell the sellers were eager to sell, and my agent pulled great comps and built a great case around my bid. This coupled with a EMD to show I'm serious moved the negotiations right along.
The object of the game is to get a house that is going to appraise for more than what you're paying, lol.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
