2007-09-29 16:27:09 · 7 answers · asked by cassandra 2 in Business & Finance ➔ Renting & Real Estate
For a house.
2007-09-29 16:27:24 · update #1
No such thing as too low of an offer when you're the buyer. Only the Seller can determine what "too low" is. Here's my reply to a similar question...
Why are you worried about it being "... a laughable insult..."? Are the owners friends of yours? You know the owner is motivated, use that to your advantage. This is business, it isn't personal. If your offer isn't at least slightly insulting, IT'S TOO HIGH!
BTW, asking price is irrelevant, SELLING price is the only info that has any value to you. Get a Realtor to run some comps for you.
So, to answer your question, I'd offer 'em $155K and see if they counter. They probably will, but if they don't you just negotiated yourself over $45k in equity. Remember, the Realtor is obligated to present ALL offers.
2007-09-30 08:01:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Depends on the market and how much above the market the house is priced at.
Offer what you think is a fair price for the house, and that price should reflect what you are willing and able to pay for the house. If it's too low, the seller won't accept your offer or will counter with a higher number.
If you are the seller of the house and have received an offer that is lower than you are willing to accept, you can counteroffer a higher price or reject the low offer.
2007-09-29 23:32:19 · answer #2 · answered by Dan H 7 · 2⤊ 0⤋
Some properties are over valued. It depends on the comparable market values in the area and how much it is worth to you. 10% is a good rule of thumb, but it doesn't always apply. Condition, location, sellers ability to sell at a lower price and how much they are willing or able to sacrifice to sell their home. It doesn't hurt to make an offer. They will most likely come back with a counter offer of some kind.
Especially in todays market. You never know.
2007-09-29 23:32:30 · answer #3 · answered by Jen 5 · 1⤊ 0⤋
I don't believe there is such a thing as low balling. When you buy something that has variable worth the negotiations must start somewhere. So why not low ball and see what happens.
2007-09-29 23:34:02 · answer #4 · answered by Hirise bill 5 · 1⤊ 0⤋
remember, no matter others opinion, it's your offer, the worst thing that can accrue is it will be rejected. It may even make the seller mad, but it is still "Your" offer. You can always comeback later with a different offer price.
Good luck
2007-09-29 23:37:23 · answer #5 · answered by Jan Luv 7 · 0⤊ 0⤋
If you go less than 10% of their asking price, that's a low ball answer.
if you tick the seller off too much, he may refuse to sell to you at any price.
2007-09-29 23:29:21 · answer #6 · answered by Anonymous · 0⤊ 1⤋
pay for an apprasil and find out what the pros think itis worth........
2007-09-29 23:44:33 · answer #7 · answered by richard t 7 · 0⤊ 0⤋