Is this a low-ball offer?

[oregonwoodsmoke]

OP, no contingencies means you have cash in hand and are not requiring an inspection. All cash offers with no contingencies ought to get a price discount, so no, your original offer was not too low.

I will almost always offer at least 10% less than asking. Of course, you have to know the market, but if that house has been sitting on the market, then it is not being offered at a bargain price (I have offered over asking for a place that was pathetically under-priced, but that scenario is rare).

I want my first offer to be less than they would consider accepting and then we feel for the level that makes us both happy. That's what negotiation is about.

It is possible that they owed the full amount and can not sell for less. However, they really should have countered, because most people will come up from their first offer.

[Icemodeled]

I say it never hurts to try. We came in quite low when we bought ours and they countered just a tad higher. It had sat for maybe 4 months. Honestly it doesn't sound like that low of an offer compared to asking. Sounds reasonable.

[davebarnes]

An offer at 89% of asking is NOT a low-ball offer.
The seller's first thought should be: split the difference and we end at 93%. Let's talk.
They "need" $236K.