months?
2007-10-03 20:37:23 · 4 answers · asked by . 3 in Business & Finance ➔ Renting & Real Estate
5k under asking price on a foreclosure is nothing, especially in this market. If you really want the house for 5k under the asking price, offer even less than that and let them counter offer and you should be ok. Many banks counter all offers which are under their asking price no matter what. I have offered as little as 50% on some. No, I don't get them that cheap, but I have gotten some for 70%, not often, but some. One bank I dealt with a few years ago gave me a house because of encroachment issues and they were afraid of being sued. I walked away from the closing table with a $335. Don't be afraid to offer low.
2007-10-04 02:20:47 · answer #1 · answered by proactiveindy 2 · 0⤊ 0⤋
You are free to offer anything you want on a home for sale, just as the seller is free to ask for anything they want on a home for sale.
When dealing with actual homeowners it is usually considered bad form to make a very low offer as it does not show that you are serious about purchasing their home (if it is close to fairly priced). If I were selling a house and someone came to me with an offer that wasn't at least in the mid-90% of what I asking, I would be very turned off by offer and may not even counter.
If this is actually a bank owned property, I would offer something significantly less than they want and hear what their counter-offer is.
Generally, though, your realtor is a good guide to making an offer that is reasonable in your market.
Good luck!
2007-10-04 11:01:22 · answer #2 · answered by Rush is a band 7 · 0⤊ 0⤋
You can offer whatever you want and the seller can list their property for whatever they want. I offer a little lower. You can always offer more but once you make an offer you can't offer less.
2007-10-04 10:09:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes. Maybe you will get it
2007-10-04 06:21:41 · answer #4 · answered by Bob D 6 · 0⤊ 0⤋