Can a buyer make a less than list price offer on a new home.?

Question

Wife has seen new homes. Yet the market place appears overpriced in the area.
Can a potential buyer make a less than posted list price offer on a new home?

Answer 1

Yes, you most certainly can make an offer less than listed price on a home, and the agency the home is listed with is obligated to convey that offer to the buyer. If you're sincere, talk to the listing agent and work up an offer. The seller may not take you up on it, but it never hurts to try.

As an aside, when I was a realtor, the company I worked for had a home listed that was being sold due to a divorce, and the judge in the divorce case ordered that the house be sold for any amount equal to or greater than the mortgage due on the house. The house (small town, older well-kept home) was listed in the upper 60s, and the pay off was 29,xxx. Of course, we as the seller's agent could not reveal those details and terms to any prospective buyer, under law. All I could say in response to any question about the least amount the sellers would take was, "make an offer, I'll gladly present it to them!"

So, you never know.... unless you try!

Good luck!
:D

Answer 2

Yes.
You can make an offer and the seller can make a counter offer and it can go back and forth. Normally after a third or forth offer you just start another contract. Also, there other incentives. You may ask the seller pay all allowable buying costs of the buyer. This when they pay some of your fees, but, the banks only allow so much, as they want to see the buyer have some resources. Another one is, if the seller not want to come down much then ask for a $5,000 (Whatever) remodeling bonus. This really cool, because after the deal go down, you receive $5,000 (Whatever) cash back from the seller. This is legal as it money back to pay for home improvements, though we never know how the money is used. Another thing to remember, that bonus is still in your loan! But, this part of buying and selling and knowing what you can pay etc. Also, there are many houses on the market (you can shop). When the interest rates go up, it a buyers market as people stop buying. When interest rates go down, it a sellers market, as more people start buying. So, interest rates go up the seller may be more willing to work more with the buyer. Remember; Supply and Demand it the house buying game.
Another thing you may want to think about. You can also negotiate with the bank. Have your calculator. Ask about "Discount Points" and it not hurt to see if you can make an offer on this. Say a bank want 6% and they say they give you a 1% discount for $1000. This mean you give $1000 up front and pay 5% instead of 6% on your loan. Do the math!!! Then you know if it a good deal. OK, now, say the bank want $1000 tell them you only have $800 see what they say and go from there. If, they not work on it and you want the discount you can pay the $1000. These numbers are all examples.

Answer 3

The price of a home or a property depends really on the market, not the value that the seller asks for. You can set your own price and they can accept or reject your offer.

When the market is seller favored, buyers tend to offer prices equal or sometimes much above the asking price to attract the seller (like in the last housing bubble in Los Angeles and elsewhere) but in the time being, I think it is becoming more of a buyer's market.

Hope this helps,

www.firstmortgagenews.com

Answer 4

Yes you can make an offer of a lower price than what is listed. Talk to your agent (you do have one right?) and they can help you with what would be appropriate. The agent is very important because they deal with buying and selling homes everyday and know the market better.

Answer 5

You can offer whatever you want- and new home sales have fallen fallen fallen, ask for costs, get the price down and push push push, take an agent on your first vist for negotiating power, if denied walk out, go back, walk out, go back walk out, they'll budge if within some reason. Don't be discouraged and don't settle, on site agents are commission based, especially look into standing inventory, fall outs, they really want to move them. Just fight and don't get discouraged, if price is key and only factor don't get attached until you can afford asking price, then negotiate

Answer 6

Oh, absolutely. That's called "dickering" ... from the old days. You offer less than the asking price, they ask a little more than your original offer, you offer a tiny bit more, they counter with a slightly smaller amount... and maybe you'll settle on a price.

You just want to be absolutely sure you can get financing for the amount you offer on the home.

Answer 7

Absolutely. But, .... you have to look at all factors, including the micro and macro market that you want to buy in. A reputable real estate agent that practices in your area will help.