How to entice seller to take semi-low offer?

[Anonymous]

We walked away, but in our case there was a 75K difference.
Six months later, it still wasn't sold, we offered the same lowball price, and they accepted our offer.

[Anonymous]

Anonymous wrote:
We walked away, but in our case there was a 75K difference.
Six months later, it still wasn't sold, we offered the same lowball price, and they accepted our offer.

And what was the list price of the house?

[Anonymous]

If you are only a few thousand apart and really like the house how would you feel if you lost it for just a few thousand? Sure, the seller may be an idiot for not taking a non-contingent offer but that's his problem not yours. If you have other houses that you like just as much that's one thing but if you don't.......

You can always say you will meet their price if they fix a few things that are inexpensive but don't ask for a new roof!

[Anonymous]

If it's a relocation some sellers may have a back up price from their company that's better for them then coming down any more. Never lose a house you love for a few thousand dollars just to prove a point or feel the need to "win". In the long run it's not worth it.

[Anonymous]

Anonymous wrote:In late Spring we accepted a full price, all cash offer from a buyer who started with a low ball offer. We had three offers that first week, two at full price. After the inspection, buyer requested 15% in lowered price. House located where market not as hot as immediate D.C. area, and in basically sound condition. Buyer walked when we said no to lower price. Lesson learned? We lost two other buyers, continued carrying empty house with summer maintenance required, and market slowed down mid-summer. Lesson learned? If a buyer is a pain in the neck initially, will continue to generate drama for the seller. It's not worth it. I will never accept a lowballer's offer again.

But you should have been able to keep the EMD then, right? If it was a substantial amount, then that is compensation for your time and money spent while the house was off the market and not selling.

And since you accepted a full-price offer, why does this affect accepting a lowball offer? If you negotiate a lowball to near list, then you obvious have a buyer who is willing to negotiated and work with you. As opposed to the slime who put in a full price offer with no intent to pay full price.

[Anonymous]

Anonymous wrote:If it's a relocation some sellers may have a back up price from their company that's better for them then coming down any more. Never lose a house you love for a few thousand dollars just to prove a point or feel the need to "win". In the long run it's not worth it.

Or likewise if the house has a ton of equity and/or present owners have low carrying costs, then they can hang onto the house as long as they'd like.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In late Spring we accepted a full price, all cash offer from a buyer who started with a low ball offer. We had three offers that first week, two at full price. After the inspection, buyer requested 15% in lowered price. House located where market not as hot as immediate D.C. area, and in basically sound condition. Buyer walked when we said no to lower price. Lesson learned? We lost two other buyers, continued carrying empty house with summer maintenance required, and market slowed down mid-summer. Lesson learned? If a buyer is a pain in the neck initially, will continue to generate drama for the seller. It's not worth it. I will never accept a lowballer's offer again.

But you should have been able to keep the EMD then, right? If it was a substantial amount, then that is compensation for your time and money spent while the house was off the market and not selling.

And since you accepted a full-price offer, why does this affect accepting a lowball offer? If you negotiate a lowball to near list, then you obvious have a buyer who is willing to negotiated and work with you. As opposed to the slime who put in a full price offer with no intent to pay full price.

Nobody keeps the EMD of a buyer who walks on the inspection contingency.

[Anonymous]

What are the actual numbers for what OP is offering and what the asking price is?

[Anonymous]

The buyer loves your house buy is at the absolute max that he is willing to pay. He has a counter on another house that is within his budget. He has 48 hours to accept, but would prefer your house, but doesn't want to lose both. Can the seller come down to the buyers last offer?

[Anonymous]

Cash
AS IS
60 Day Free Rent Back

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In late Spring we accepted a full price, all cash offer from a buyer who started with a low ball offer. We had three offers that first week, two at full price. After the inspection, buyer requested 15% in lowered price. House located where market not as hot as immediate D.C. area, and in basically sound condition. Buyer walked when we said no to lower price. Lesson learned? We lost two other buyers, continued carrying empty house with summer maintenance required, and market slowed down mid-summer. Lesson learned? If a buyer is a pain in the neck initially, will continue to generate drama for the seller. It's not worth it. I will never accept a lowballer's offer again.

But you should have been able to keep the EMD then, right? If it was a substantial amount, then that is compensation for your time and money spent while the house was off the market and not selling.

And since you accepted a full-price offer, why does this affect accepting a lowball offer? If you negotiate a lowball to near list, then you obvious have a buyer who is willing to negotiated and work with you. As opposed to the slime who put in a full price offer with no intent to pay full price.

Nobody keeps the EMD of a buyer who walks on the inspection contingency.

Not true. You have to show proof that there were issues in the inspection that triggered the lower price offer. If the indie tion found no issues that justified the lower price then the buyer cannot activate the inspection contingency and just randomly lower the price. Price adjustments have to be based on inspection issues flagged during the inspection.

If there were major issues flagged then it wasn't just an unwarranted price adjustment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In late Spring we accepted a full price, all cash offer from a buyer who started with a low ball offer. We had three offers that first week, two at full price. After the inspection, buyer requested 15% in lowered price. House located where market not as hot as immediate D.C. area, and in basically sound condition. Buyer walked when we said no to lower price. Lesson learned? We lost two other buyers, continued carrying empty house with summer maintenance required, and market slowed down mid-summer. Lesson learned? If a buyer is a pain in the neck initially, will continue to generate drama for the seller. It's not worth it. I will never accept a lowballer's offer again.

But you should have been able to keep the EMD then, right? If it was a substantial amount, then that is compensation for your time and money spent while the house was off the market and not selling.

And since you accepted a full-price offer, why does this affect accepting a lowball offer? If you negotiate a lowball to near list, then you obvious have a buyer who is willing to negotiated and work with you. As opposed to the slime who put in a full price offer with no intent to pay full price.

Nobody keeps the EMD of a buyer who walks on the inspection contingency.

Not true. You have to show proof that there were issues in the inspection that triggered the lower price offer. If the indie tion found no issues that justified the lower price then the buyer cannot activate the inspection contingency and just randomly lower the price. Price adjustments have to be based on inspection issues flagged during the inspection.

If there were major issues flagged then it wasn't just an unwarranted price adjustment.

This is not how most inspection contingencies work. In general, you can indeed "randomly" lower the price, regardless of what issues were found (or not). In some cases, the buyer may only be able to walk, but not negotiate.

[Anonymous]

What does your Realtor say? The potential buyer sounds like you either can't afford the house, or you refuse to pay another penny for personal reasons. It doesn't sound like you want this house, just move on and stop bothering the sellers.

[Anonymous]

Cash, no contingency except for an inspection. Unfortunately, few of us can be in that position. But you can deal with the cash issue with a pre-qualified mortgage.

[Anonymous]

Anonymous wrote:Cash, no contingency except for an inspection. Unfortunately, few of us can be in that position. But you can deal with the cash issue with a pre-qualified mortgage.

This won't work in DC. Sellers don't care about your low ball all-cash offer if you have an inspection contingency. That's just a dumb proposition for the sellers.

Low ball cash buyers are getting laughed at by sellers and their agents right now.