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Real Estate
Reply to "Overpriced house - lowball offer or wait?"
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[quote=Anonymous]I would make sure I had a decent second choice property lined up if I was going to offer low. We turned down an offer that was 10% under asking three years ago. But, supply was low and the buyer really didn't have other choices. They ended up with a higher-priced unit in a much worse location (like, gang central). As for us, the low offer was the only offer we got. Sucked, but rents were skyrocketing so we ended up renting the place out for a few years. Just talked to the realtor this week and she thinks market is now at the price we originally wanted. We'd be happy with 5% under that original price, but we don't regret for a minute that we refused a 10% punch in the face by a buyer who was clearly trying to take advantage of the panic in 2009. [/quote]
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