How much should I offer for a house if seller is "very motivated"?

Question

The set price for the house is 169,900 but the seller told me that she is "very motivated to sell". I don't want to lowball my offer so much that the seller laughs and walks away from me. So any ideas on the amount a very motivated seller would be willing to drop on price. Thanks

Answer 1

offer $150,000. If she is truly motivated, she definitely will not get insulted.

Answer 2

This is one reason you should never try to buy or sell a house on your own. Have the Realtor talk to them and bring you back some answers.
What they're doing is the same as you are, they're fishing, on a fishing expedition, it takes experience to see that.

They're not sure of the price or if they can get that price mentioned. They're fishing and trying to see if you'll go for it.
I've found this out, don't get excited over a price, don't look or jump at an offer of any kind. If they can see you, read you, they'll know what to expect, this is what you don't want. You want them to keep in the dark and not know what your willing to offer.

After you find out all the details, investigate what the deal is, then ask, don't offer anything. Make them come to the table. You may offer much more then they're willing to take, you'll be overpaying them.

Property today is way overpriced, you may get a good deal if you make them offer a price, then stall, don't jump, tell them you'll think about it, come back and ask them if that's the best they can do. When it's down and dirty, then make an offer, but, lower if possible then they ask.

Answer 3

what city and state are you in? Are they crediting for closing costs at all? What is motivating the seller? Do they already have an offer on another house, buy another house, money issues? Use the appraisal and then also look at the comparibles and see how long they've been on the market.. how many times their comparibles dropped their value and/or sales price. Also, how long has this house been on the market? If the nearby comparibles are/have dropped then average and make a bid. Don't go too low and try to get credit for c/c! hope this helps and let me know if you have any questions.

A few more things... ASK YOUR REALTOR.. if they don't know.. GET A NEW ONE! :). Another thing to consider.. when did they buy the property? How much do they owe on it.. on est of course... and then you know more or less how much money they are making off the sale of their home.. this way.. you knock some of their earnings off... if that makes sense

Answer 4

This is why you need a Realtor. If your realtor doesn't know then talk to his/her broker. You cannot just go to another realtor because they had already showed you the property and are entitled to the commission and not the other agent...my understanding here of that.

Have the agent show you what houses have sold for not what is listed. This will give you an idea what is the current market value. Also, do you need help with closing costs? You need to factor that in as well.

I hope this helps. Remember, a realtor doesn't cost you they get paid by the seller.

CA Lender

Answer 5

I'll be honest...you need a Realtor to represent you if you don't know how much the house is worth. A Realtor can research your area and find out how much the seller paid for the home originally, plus do a market analysis...and that is how they arrive at "how low can they go".

You also need a Realtor to gauge possible reasons they might be selling, which may be the area...something that is getting ready to change in the area, etc.

Answer 6

Do you have a realtor contracted to yourself as a buyer agent? If not (depending on which state you are in) the realtor with whom you are dealing is not going to give you this information, since that realtor is obligated to work on behalf of the seller.

If you do not have a buyer agent at this stage, you are a bit too late, since bringing in another realtor now would complicate the sales commission situation badly for the seller involved.

As far as what you should offer, you should be guided by the sales prices of recent comparable properties in the area. You may ask the agent with whom you are working to provide you examples of comparable sales, and he/she should willingly provide same.

Use those comparables as your guide to what you might offer.

Answer 7

it would not count number what the broker has in it, or what he's attempting to sell it for - what's IT well worth? it is needless to say not well worth $420k or $345k, because of the fact it hasn't offered. It feels like the broker's attempting to hit a "abode run" with this investment. If it is well worth $300k mounted up, and you furnish $250k, and placed $50k into it, then how is that a sturdy deal? you ought to in basic terms purchase yet another sources it quite is already mounted up in case you wanted to place $300k finished into it. Me for my section, i might get a actual sturdy thought what the home is well worth in sturdy shape, (an independent third social gathering, not the actual sources agent) ...then take DOUBLE the maintenance off that fee (to circulate away you some room for errors). If that quantity happens to return in at $180k, then that's what i might furnish. i don't care what the broker has into it. do not pay for the broker's blunders. that could make you a "inspired client". If he/she initially overpaid for the valuables, then do not bail them out by utilising making a ludicrous furnish.

Answer 8

Do you have a bank evaluation value on the house or someone have sold similar unit nearby. Use that as a reference.