Lowball offer on $599K house?

[Anonymous]

OP, if you need it to be 10-15% lower then make that offer. Leave a little wiggle room for negotiating. No harm. You really can't worry about the buyer being offended, nieghbor or not. This is a business transaction. You don't know their motivations for selling and they don't know yours for buying. Just go for it. And...please let us know the outcome.

[Anonymous]

"DH and I mistakenly went to an open house for a house that we've always loved from the outside"

How does one "mistakenly" attend an open house in their own neighborhood? Incorrect pricing?

[Anonymous]

Would your offer be contingent on your house selling? If yes, I think this will make your offer much weaker.

[Anonymous]

Look up the property record and find what they bought it for, if you don't already have that information. Gives you a better idea if you are asking them to loose a lot.

[Anonymous]

Anonymous wrote:"DH and I mistakenly went to an open house for a house that we've always loved from the outside"

How does one "mistakenly" attend an open house in their own neighborhood? Incorrect pricing?

More because we weren't looking to actually buy and if we go forward it sets off a chain of events (having to sell our place at a loss, etc.) that we weren't necessarily expecting.

[Anonymous]

Go in with no agent, offer the listing agent your listing to sell your TH and suggest that they take a reduced fee on being the buyer and seller agent since you are unreprsented. Sell it as the agent saving their client money to be able to take a lower offer.

[Anonymous]

Anonymous wrote:Go in with no agent, offer the listing agent your listing to sell your TH and suggest that they take a reduced fee on being the buyer and seller agent since you are unreprsented. Sell it as the agent saving their client money to be able to take a lower offer.

If you do this, get a RE attorney to review docs for you. A title agent can refer you to one. Only a few hundred bucks an hour, but worth it.

[Anonymous]

Anonymous wrote:The only reason I worry about offending is because the house is across the street from us... so, while I don't know the seller, she is a neighbor.

In this case, I think that along with your lowball offer you can submit a note along the lines of, We don't mean to insult you by bidding so low, but we've been in love with your house for years now, and would be kicking ourselves if we didn't at least put in an offer, even if it is far below your price. The trick is to compliment the house without giving the impression that there's any way you'd be able to pay more than $xxx for it.

Of course, some people will be offended no matter what.

[Anonymous]

OP,

These neighbors won't be neighbors for long. What are the chances of having them in your social or professional circle once they move? Really, if they are offended, too bad. They will just turn it down and it will be done with.

Are you sure you're not embarrassed about not being able to come in at a higher price?

[Anonymous]

Anonymous wrote:OP,

These neighbors won't be neighbors for long.

Unless they are also moving across the street...

[Anonymous]

$60,000 less is too much lower. It's funny, I was thinking about starting a thread about what is a "lowball" offer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The only reason I worry about offending is because the house is across the street from us... so, while I don't know the seller, she is a neighbor.

In this case, I think that along with your lowball offer you can submit a note along the lines of, We don't mean to insult you by bidding so low, but we've been in love with your house for years now, and would be kicking ourselves if we didn't at least put in an offer, even if it is far below your price. The trick is to compliment the house without giving the impression that there's any way you'd be able to pay more than $xxx for it.

Of course, some people will be offended no matter what.

I think this is a nice idea. That being said, however, I think you're making a mistake to not (a) talk to a lender TODAY about what you can and cannot afford and (b) talk to a realtor TODAY about reasonable prices in your area before making an a offer. Any smart seller is going to ask for your lender letter with your offer, so you need to have that in hand asap. Once you take care of those things, I say, nothing ventured, nothing gained...

[Anonymous]

Anonymous wrote:

Anonymous wrote:The only reason I worry about offending is because the house is across the street from us... so, while I don't know the seller, she is a neighbor.

In this case, I think that along with your lowball offer you can submit a note along the lines of, We don't mean to insult you by bidding so low, but we've been in love with your house for years now, and would be kicking ourselves if we didn't at least put in an offer, even if it is far below your price. The trick is to compliment the house without giving the impression that there's any way you'd be able to pay more than $xxx for it.

Of course, some people will be offended no matter what.

I wouldn't do this. Too emotional. Why is this the sellers problem? State that your offer is all you can afford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The only reason I worry about offending is because the house is across the street from us... so, while I don't know the seller, she is a neighbor.

In this case, I think that along with your lowball offer you can submit a note along the lines of, We don't mean to insult you by bidding so low, but we've been in love with your house for years now, and would be kicking ourselves if we didn't at least put in an offer, even if it is far below your price. The trick is to compliment the house without giving the impression that there's any way you'd be able to pay more than $xxx for it.

Of course, some people will be offended no matter what.

I wouldn't do this. Too emotional. Why is this the sellers problem? State that your offer is all you can afford.

I think its a nice touch. You never know what moves people. And to the poster saying 60k below is too low- nothing ventured, nothing gained. The buyer stated their impression of the price had something to do with the reference point of a few years ago homes being worth more than 200k higher. Maybe 60k below list is right where it should be. If its been sitting on the market, and its Nov, I think the buyer is in the driver's seat. The seller is always free to say no thanks.

[Anonymous]

Anonymous wrote:So you're trying to move across the street? That's so fascinating to me. Is the other house so much better than the one you're currently in?

Yes. This.

Moving accross this street just doesn't seem worth the packing.