I found a house for $164,900 and it's out of my price range. I know that price is negotiable but I don't want to insult the seller. Would offering a little under $150,000 be insulting? I know that it's a lot less but I've seen some people reducing the price of the home by $20,000. I don't necessarily mean in this particular neighborhood, just in general. If this is unacceptable would would a more reasonable price be? The home is in very good shape and built 2002.
2006-07-19 16:37:52 · 9 answers · asked by recklesskell 1 in Home & Garden ➔ Other - Home & Garden
Depending on where you live, currently $150k would be too high of an offer.
For example, asking prices are based on peak sales in Summer of 2005 for many metropolitan areas of the U.S.
However, severe inventory in those same areas has led to a rapidly declining real value.
Now on the other hand, if you live in a town that did not experience 50% to 100% price growth between 2001 and 2005...in other words, home price appreciation has remained constant to standard economic factors, then your $150 bid is fine.
The housing market, in general, is bust.
Do not fear low-balling. What is the worst thing that could happen? They tell you no?
Definitely go on Zillow.com, put in the address [you'll have to type in some letters down at the middle/right of the page] and see if there are any comparable sales listed within the last three months. Probably not, because court recorders are too busy to keep the records current, and the comps aren't worth anything right now.
2006-07-19 16:46:41 · answer #1 · answered by Anonymous · 1⤊ 1⤋
I have a couple of thoughts. First, if you know the address, go to this site,,,"Zillow.com", type in the address and you'll see info on that house and its neighbors,,including an estimated value. It also offers GPS.
The best thing you can do to arm yourself is get local comparables, even the tax assessed value of that house.
The asking price is likely not unreasonable, and may not even be greatly inflated, by the seller, but the market certainly has inflated in the last 10 years. It is beginning to level off, but I doubt we'll see any decrease in prices, only in sales for now.
Your thought of what to offer may not strictly insult, but it may be turned down. I suggest if you truly want THAT house, you do your homework, submit the offer, then be preapred to either be turned down, negotiate up, or seek more creative financing that might allow you to come closer to the asking price.
Just an aside, though not strictly relevant. In 1992 I had a house built. It cost me $128,000, for a bit over 1800 sq. ft. and a very nice house. Today that house is estimated to sell for right at $350,000. A neighbor just sold his, same model, same size, similar upgrades and amenities, for $385,000.
The best you can do is try. The least you can expect is "NO!"
I do follow this however, a quote of mine. "I can't win a lottery, if I don't buy a ticket."
Rev. Steven
2006-07-19 16:55:58 · answer #2 · answered by DIY Doc 7 · 0⤊ 0⤋
So what if you insult someone, they want to sell you want to buy, now this is business. If they really want to sell they just might accept, but if not they will refuse. They cant hang you for this!
If they refuse just put in a higher offer.
Someone did that to me they put in an offer and I was annoyed and told the estate agent so. Then they rung again with more money and i accepted. That is why you have estate agents, so you can be mad at them and they wont be offended, then they talk nicely to the seller! It is all a game - honestly.
Go on put in your offer at the end of the day a house is only worth what it will fetch on the open market, and if the market cant afford the house, and you are the market, then the house is overpriced. Hope that you get it.
2006-07-19 20:38:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Make the offer, what is the worst they could do... refuse the offer. The best they could do is come back with a counter offer or simply let you have it for your offer price. In most cases home owners will not accept the first offer they get unless it is the amount they are asking for. If it has been listed for a while you may have the best offer, you never know. Good Luck!
2006-07-19 17:29:43 · answer #4 · answered by fastsaf 3 · 0⤊ 0⤋
It depends on whether or not this is a private sale.... most home owners that are selling their home are very negotiable by at least $5000 or more. You can always make an offer and if they say no, then go from there. Be sure to get a professional home inspection done as well.
2006-07-19 16:48:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
My advice is to cut to the chase, tell the seller that the price is out of your range, ask them the lowest price they would accept. Tell them you are interested. Make them the offer and if they want to think about or even refuse give them you r card and check back with them in a few days.
2006-07-19 16:51:46 · answer #6 · answered by Joyce D 4 · 0⤊ 0⤋
Don't worry about insulting the owner. Make an offer you are comfortable with .I once bought a house that I made an offer on that was $16,000 .00 less than the asking price . So go for it.
2006-07-19 16:49:13 · answer #7 · answered by jim d 3 · 0⤊ 0⤋
Can't hurt to ask. The most they can say is no. Anybody selling a house shouldn't be insulted. If you offer too little they may laugh but you've lost nothing by asking.
2006-07-19 16:42:02 · answer #8 · answered by Anonymous · 0⤊ 0⤋
do no longer make an furnish till your agent gets you some comp's for that section.....if maximum human beings of properties are all interior that age variety. If no longer, then you definately could desire to evaluate $138k and customer to pay 50% of final expenses and likewise furnish a one 365 days domicile guarantee. each little thing is negotiable.
2016-11-02 09:23:49 · answer #9 · answered by ? 4 · 0⤊ 0⤋