Making an offer below list
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Anonymous
| How long will a seller normally wait before entertaining offers below list? I'd like to make an offer below list on a house I believe is overpriced, but that has only been on the market for 7 days. That said, if it were priced right it probably would have sold already, as it is in a desirable neighborhood and had a well-attended open house on Sunday. |
Anonymous
| Are you sure there aren't any offers pending that the sellers are taking under consideration? It took our house about that long to go under contract, but we were in active negotiations for most of the time. |
Anonymous
| Say that you want a response in 24 hrs. |
Anonymous
| I'd imagine it varies greatly based on location, the price point of the house and how far below list you're talking. But if I were the seller I'd wait longer than 7 days to see if I got a full price offer. |
Anonymous
|
Okay cool. Thanks, 13:56, for the advice to put a 24-hour deadline on the offer--I agree.
Does the fact that they had an open house last weekend and are having another this weekend mean anything? Perhaps they are hoping to sell quickly? |
Anonymous
There's really no point in that. Are you really going to say no if they come back in 48 and say, "sure, we'll take your offer?" Of course not. |
Anonymous
Yeah, I mean say you offer like $30,000 less. That's a year's worth of mortgage payments to some. |
Anonymous
Means nothing at all. By chance, were you in town this past weekend? It wasn't exactly house hunting weather, KWIM? |
Anonymous
The point is to get them to respond quickly, rather than sit on your offer waiting for others to come in. They can counter, and it's up to you how long to wait. If someone has their house listed, they should be able to respond quickly to an offer. |
Anonymous
Cough. Wrong. Agent here. Held 3 open houses in our brokerage, all three were slammed. 50-60 people at each. |
Anonymous
| I'd make an offer as soon as you know you want the house. Don't assume others aren't interested just because you don't see a change in notation on the sign or online. Negotiations may be occurring currently and can go back and forth for days. Sometime, realtors also take a while to change the notation on a house. If you want it, make an offer. The worst thing that can happen is that they say "no" or counter your offer. Then, you'll really have a choice to make. |
Anonymous
In my experience, rain did not scare away potential buyers. Went to a new listing open house in Bethesda. Non-stop cars. House is already under contract. |