Reply to Making a low ball offer

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=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.[/quote]

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

not true. We bought out house as a short sale and it appraised for $50K more. Based on what houses are currently selling for in our neighborhood we could eaily sell it for $100K more than we paid 2 yrs ago. [/quote]

PP here. Yes, it is true. Our house also appraised for 40K more than what we paid, and despite the fact that we even got two appraisals which both were high, I don't delude myself into thinking that my house was actually worth that price at that particular point in time. Two years later is irrelevant (my house appraised for 120K over what I paid three years after I bought it). At any given point in time, a house is only worth what somebody paid for it.[/quote]

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