Making a low ball offer

[Anonymous]

Would you do it this time of the year. House we are interested in has been on the market for over 2 months with no reduction in price.

[Anonymous]

Yes. Your agent should speak to sellers agent to get a feel for their position. If she senses desperation, impatience, a need for settlement funds in order to purchase, etc., go for it.

[Anonymous]

What kind of lowball are we talking about?

[Anonymous]

2009 called and wants their lowball offer back

[Anonymous]

It is Cyber Monday. good luck!

[Anonymous]

Do it. We offered $700k on a house for $980k. They balked. A month later I came back and offered $750k. They accepted. House was worth $875 or so.

[Anonymous]

Definitely do it.

[Anonymous]

Do it. But make sure your other conditions are good. Settlement date seller wants, strong earnest money deposit, fast turn around for inspections, strong lender letter. You want to make yourself very appealing to seller

[Anonymous]

I wouldn't have your agent talk to them, just send the offer. you are in the drivers seat.

[Anonymous]

Anonymous wrote:Do it. We offered $700k on a house for $980k. They balked. A month later I came back and offered $750k. They accepted. House was worth $875 or so.

When was this?

I doubt that a home worth $875k sold for $750k. I scooped up a home that was originally sold new in 2005 at $620k for $400k. I had no illusions that the home was somehow worth more than what I paid for it.

[Anonymous]

Offer and see what they say.

[Anonymous]

The market has slowed in DC. I am not sure if it is due to the holidays but i have noticed a few nice renovations that are sitting with no offers. I went to an open house recently and the developer stated that they might have to rent out a few because they can't get "their price."

[Anonymous]

Odds are if the sellers have not lowered their price that either they are testing the market, not properly motivated or getting bad advice from their Realtor. Have your agent reach out to the listing agent to get a feel of their position.

[Anonymous]

Yes, of course. This this the best time to buy a house.

[Anonymous]

Anonymous wrote:Do it. We offered $700k on a house for $980k. They balked. A month later I came back and offered $750k. They accepted. House was worth $875 or so.

What is this based on? A house in only worth what somebody pays for it. So, in your case, $750K.