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.
Yeah, they are low balling and wasting your time. I wouldn't even want to deal with them at this point.
Quote:
Originally Posted by ebbe
They like your house but they are low balling. If they really want it, you'll hear from them again with a better offer.
No one here online can say whether or not the offer was a low ball offer--because you don't know the real value of the house.
Since this is supposed to be a "similar story" thread , I once offered $350,000 below list price. It wasn't a low ball offer because the asking price was WAY too high--$1.25M. The property sat on the market for 5 years...until I bought it for $250,000 under list price. But in five years, the market had appreciated substantially. I was very glad that they turned down my initial cash offer.
I don't think they are low balling you at all. They are telling you what they think the house is worth given the location problem. If you get several offers like this, you may need to listen. Those "offers" last year are irrelevant because they didn't actually end up buying, and the timing is different.
I don't think they are low balling you at all. They are telling you what they think the house is worth given the location problem. If you get several offers like this, you may need to listen. Those "offers" last year are irrelevant because they didn't actually end up buying, and the timing is different.
Here's a thought: Maybe the Zillow "Make Me Move" offer was from the owner of the bar/restaurant across the street? That WOULD be a reason for making an (inflated) offer on that property, wouldn't it?
Most likely, what the buyers offered is all the money they can come up with. Otherwise, they would have negotiated upwards at least a little bit.
Often a buyer has the capability of paying cash at several times the price offered. The will however not negotiate the price upwards for any amount. Too many sellers today, lay people, and inexperienced agents think that every offer has the potential to get just a little bit more, and insist on negotiating every offer thinking I can get a little more. The buyer very often just says no. I have seen this many times over the years, and when the property is eventually sold it is often sold for even less money, demands for fixing things, increased.
Quote:
Even in a sellers market, there can be 4 months or so worth of inventory. Someone in that market is going to take 4 months to sell, no matter how hot the market is.
The 4 months inventory is the total number of properties on the market, divided by the number of sales per month that close. Some homes will sell in a week, and some will still be for sale in a year included in that group. Properly priced nice and clean properties will sell rapidly, and those that overpriced or not as nice as the competition will still be on the market at the end of 4 months and often a year later.
What is your asking price (or general asking price)?
$20,000 off of a $500,000 house is a lot less, percentage wise, as $20,000 off a $150,000 house.
You should consider lowering your price by $2000 for those buyers, verbally, via your realtor. This is to get the ball bouncing again. They said they would increase their price. You need to do a slight decrease in order to get them to move upward. You might need a couple baby steps back and forth with them to see how much they are willing to pay.
technically the ball was in their court. But you know what - they spiked the ball. But they did reach out to your realtor and ask that you bring the ball into play again - with your next lower counter offer. So DO IT. Your ego is getting in the way because your first post is criticizing them for doing the negotiation different than it's usually done.
Yes, this is true,they are negotiating different than most standard transactions. So what?
You already know they are willing to increase their price. Now get to it and counter offer again and swallow your pride so you can get this home sold. So what if the buyers are playing hard ball. They are willing to come up in price and you don't know what that price is. You need to find out what price they are willing to pay before you quit on them.
Didn't hear back, so our realtor called her up. She said their offer was the same as originally presented the first time. They love the house, but it doesn't fit their needs perfectly (this is new info), ..
"If it didn't fit their needs perfectly, then may I suggest they go looking for one that DOES?" (Hang up)
The offer price was $20,000 off $400,000? This offer is 5 percent lower than the asking price. This is NOT a lowball offer. The buyer's agent already told your agent that the buyer will go higher.
Counter offer now. Go a bit lower than your other counter. Get this home sold.
Don't tell the buyer to pound sand. You want to make this deal happen.
yeah, 45 days and sellers markets dont belong together. less than 1 week is a seller's market in my opinion. Here in the Austin, a house on the market for 45 days tells me a non-realtor that something is wrong with the house - either price, location or something structural but all comes down to not priced right. As a buyer, I probably wont move from my initial offer. Buyer probably wanted to suss out if after given time to consider the your options, whether you will take their offer.. No harm, no foul!
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.
, I once offered $350,000 below list price. It wasn't a low ball offer because the asking price was WAY too high--$1.25M. The property sat on the market for 5 years...until I bought it for $250,000 under list price. But in five years, the market had appreciated substantially. I was very glad that they turned down my initial cash offer.
