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[quote=Anonymous]Do it if

1) your "low" offer is based on your research of the comps and an acknowledgement that based on the comps, the seller has the house overpriced

2) you are serious about the deal going through and show that by a higher earnest money deposit, meeting seller on dates of contingencies and settlement, etc.

We "low balled" an offer earlier this year on the house we now live in. We offered in September after house had sat for over 3 months. Sellers had some bad real estate advice I believe, and overpriced far and above the comps and while they continued to drop their price, they kind of screwed themselves with their initial overpricing. We offered about 9% below the then-list price which actually some would argue is not a low ball offer, though it was about 25% below their initial list price the 3 months earlier.

We offered that 9% below estimating that we would end up meeting in the middle, the price at which we felt the house was worth based on the comps. Indeed we did end up in the middle with essentially both parties satisfied - about 5% below then-list price after accounting for money back at closing. We had all the standard contingencies AND we had a VA loan.

Another thing in our favor - we were absolutely willing to walk away from the house if the contract price wasn't right. Our agent made that clear to their agent, and I suspect we were their only offer over the course of that 3 months.

Again, low ball offers shouldn't be made simply because you can't afford or just want a house for less money, but rather because the research on the comps is telling you that the house is overpriced. [/quote]

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