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| Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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10-20-2005, 10:51 AM
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#1 |
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Registered User
Industry Role:
Join Date: Jan 2001
Location: Your moms box
Posts: 26,727
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ATTN Homeowners..... Question for you....???
When you were in the begining stages of purchasing your home and you made your first offer on it, how low did you go? Did you lowball the seller? If so, how much did you lowball he/she by?
I'm just curious to hear what others have done. |
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10-20-2005, 11:22 AM
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#2 |
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So Fucking Banned
Join Date: Oct 2005
Location: I convert perverts like catholic church!
Posts: 5,133
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I wouldnt say we "low-balled" but we did inform the Remax agent that were were ready to purchase that day.......................only 7,000 less
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10-20-2005, 11:25 AM
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#3 |
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Confirmed User
Industry Role:
Join Date: Jan 2004
Location: Wisconsin
Posts: 4,517
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Offer around 10-15% less than asking price.
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10-20-2005, 11:25 AM
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#4 |
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I can change this!!!!!
Join Date: Feb 2004
Posts: 18,972
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put down atleast 20% to defeat pmi
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10-20-2005, 11:25 AM
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#5 | |
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So Fucking Outlawed
Industry Role:
Join Date: Nov 2001
Posts: 5,114
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Quote:
Depends on the Market, Comps on the house, and how long it has been on the Market. In California and Arizona you have to go over asking price in the Median house range. Over 1.5 Million then you can negotiate lower. 
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ICQ 115433750 |
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10-20-2005, 11:27 AM
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#6 |
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Registered User
Industry Role:
Join Date: Mar 2003
Location: tampa
Posts: 1,740
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Yeah, there is not really any negotiating lower these days in Florida.
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10-20-2005, 11:30 AM
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#7 |
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Confirmed User
Join Date: Aug 2004
Location: On The Edge
Posts: 7,994
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When I bought this spring, my relator advised me to not try to seriously lowball them. She said most people will see that as an insult, even if they don't consciously recognize they see it that way.
She left the final decision to me, and I offered $4k less than list. I could have offered alot lower, but I was not in the mood to cock around. I wanted a house, and I wanted it then. I liked this one, and I did not want to look at a bunch of others. I wouldn't say I was in a desperate to move situation, but it was a sooner the better kind of deal. If not, I might have tried the serious low ball.
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~ Doer of Things at MetArtMoney Where Flawless Beauty Meets Art ~The MetArt Network ~ selena.delgado9 |
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10-20-2005, 11:31 AM
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#8 |
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Registered User
Join Date: Dec 2004
Posts: 17
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It depends on the market as stated by others... Market dependance on if houses are hot in your market. Meaning more buyers than sellers. If this is the case then you might want to offer what they are asking.
If house sales are down in your area then you can probably drop 20k on your initial offer. We always start out lowball in our area just to see how desperate the homeowner is on selling. If he responds back with 300 less then I know he is pretty set on his price. If he responds back with 5k under then I know he wants to sell and usually my next offer wins. The main thing is to have your financing or cash on hand to make a quick sell... If you can close it in 2 weeks that can sway the price in your favor. |
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10-20-2005, 11:31 AM
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#9 |
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It's coming look busy
Join Date: Mar 2001
Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn".
Posts: 35,299
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Ussually as a start, knock off the "odd" portion of the price. Example being if the house is listed at 259,000.00 then 250,000.00 is the bid.
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10-20-2005, 11:32 AM
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#10 | |
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Confirmed User
Join Date: Mar 2003
Location: NJ
Posts: 3,139
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Quote:
25k and the guy took it. |
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10-20-2005, 11:34 AM
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#11 |
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Confirmed User
Join Date: Jul 2004
Location: Long Island, NY
Posts: 5,430
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a good rule of thumb is the longer the house has been listed the lower you can offer
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10-20-2005, 11:51 AM
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#12 | |
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So Fucking Banned
Industry Role:
Join Date: Apr 2001
Location: the beach, SoCal
Posts: 107,089
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Quote:
haha . . . actually, with this house I saw it, told the guy it was a great house, worth everything he wanted, but I could not afford it, and left. An hour or so later I was called, and he lowered his price. I told him he did not need to do that, and I still could not afford it. An hour later he called back and had lowered it again. I then said okay, and bought it. My first house, I think I just said I would take it. People don't haggle too much around here. If you don't want it, there are plenty of others that will. I hear more of bidding wars going on between buyers than of people trying to lowball someone. |
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10-20-2005, 11:52 AM
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#13 | |
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So Fucking Banned
Industry Role:
Join Date: Apr 2001
Location: the beach, SoCal
Posts: 107,089
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Quote:
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10-20-2005, 11:55 AM
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#14 | |
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Ryde or Die
Industry Role:
Join Date: Dec 2002
Location: California-Shanghai
Posts: 19,568
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10-20-2005, 12:02 PM
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#15 | |
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So Fucking Banned
Industry Role:
Join Date: Apr 2001
Location: the beach, SoCal
Posts: 107,089
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Quote:
I read again, think she means she knocked 25k off the asking price |
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10-20-2005, 12:28 PM
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#16 |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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an offer is just that, an offer, the seller will counter your offer or just outright reject it. Either way they will respond to the offer. Then after you see their response, you can adjust your offer. But I would not make an offer if your not willing to pay very close to the selling price.
Also if the seller does go down, he may do so only if you pay allot of the closing costs that are usually paid by the seller. Or you can ask a lower price and offer to pay certain closing costs that he would be paying. The main thing is not to insult the seller by asking way below market price, unless its been on the market and the seller is very motivated to sell. my home is on the market now and I am going to reject any offer that is below my asking price, why , because I know I will get what I want and I am not in a hurry to sell. offer what the house is worth to you, then wait to see what their response is. |
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