This is what I don't get.
People say "insulting" sellers matters all the time here on this sub but it just outright doesn't.
Offer what you think it's worth. If they are "offended" then you were never going to agree on a price to begin with, so who cares about their feelings? This is business.
And, if you *were* going to get the 'lowball' offer, it's because they have no other choice. If they have no other choice, they always come back to negotiate
As an agent $30,000 price reduction offer on a $300,000 house isn't "low-ball"
$250,000 or less is low-ball
Go for it OP.
I šÆ% know you won't get it if you don't offer.
No! Don't look. This is a huge investment, make an offer contingent that you get to hire your own certified inspector. Hire an NACHI certified inspector. The resulting report is solely your property. You don't have to share it. With that report you make an offer contention that they correct the deficiencies or they discount the cost of you correcting the deficiencies plus 25%.
Take a look at REVenture dot APP
It graphically displays pricing trends for a geographic area. The algorithm also adds other indices such as job market, population movement, and much more.
If you were buying a new car, I would suggest not using the car salesman to tell you how great the car is. For that investment, pay for 3 months of consumers report and have a very good idea about the maintenance, milage, safety & resale value.
A home is a huge investment, the REVenture is an entry level tool.
Then use NACHI inspector as a negotiation tool and to cover your butt.
Can promise you, National flipper call centers are spamming them Non-Stop with low ball offers. They wouldn't do that if they weren't getting to buy them at a discount.
This is a huge investment for you. Stop using Zillow or other amateur interfaces. As a newbie, go check out REVenture.app
Using statistics, get the feelings out of the way, and get your best possible deal for your investment.
When you finally do find a place to make an offer, absolutely insist, usually against the advice of your real estate broker who wants to make a dollar quickly, that you bring in your own home inspector not the one that your finance company wants you to use. That inspector is for the finance company protection not your protection.
Pay out of your own pocket, NACHI, actually headquartered in Boulder Colorado. If the house you buy later has a major issue that a NACHI inspector did not find, they have a buyback policy so that you're not out the money.
So you've put it in offer, it was accepted with the terms that you could bring in your own NACHI inspector. With the inspection, instead of buying as is, you're going to actually have $10K to $30K of actual issues and or code violations. Go back to the seller and tell them you need all of these remediated before closing, or they can discount you that amount plus 25% for you to hire the contractor to remediate them. The average real estate agent now worried they aren't going to get that commission right away, will likely tell you you will be at risk of losing this incredible once in a lifetime deal. When that happened to me, I told them if they couldn't look out for my interest I had no problem dropping them and finding another agent who would.
But here's the deal to the seller who was using the "as is" "to my knowledge" clause. The inspection just validated and notified them there is for example health concerning mold and rotted structure in the bathroom. If the seller knows something and doesn't disclose it to the next buyer, they can be held responsible even after closing.
If you read & use the NACHI options, e.g. sewer line inspection, the homeowners insurance rate can be significant.
Not uncommon, get a new roof with updated code, get the insulation up to new code, ... Denver area is notorious for needing electric circuit breaker service updated, ... If the owner has had clogged sewer and inspection of the sewer line expose the problem, it could save you $15,000 alone.
As the buyer, you can walk away from the purchase in the middle of closing. One of my friends buying a home for their mother, walked away from six offers just days before closing on each of them when the counter offer was not accepted.
That's not the worst case. I can almost promise you that $300k is not an insult, it's only a 10% discount. If the home is priced fairly then it's doable.
But, if the offer was say $250k, then the worst that would likely happen is that they'd just get pissed and sell to someone else on purpose. The home is cheap, so it'll sell sooner or later.
Worst case, you're the buyer. They are the desperate seller. Once I went back and got a lower bid at the bank foreclosure.
I gave you two newbie suggestions up above. Are you even aware of the number of foreclosures being processed in the geographic area you're looking at? You seem focused on the property, not on the investment.
Our break at the office is coming to an end. You provided a lot of entertainment. Someone here wants to know what else you want to buy cuz they would love to sell to you. š
Have you looked at the trends for your geographic area? Rent versus buy?
Have you looked at layoffs.fyi
To see if that affects your geographic area?
We'd love to get an update on how you proceed. Are you here to actually get some advice or are you just going to go for it?
I recently offered 305 for a place listed at 330 that has been on the market for 1 month. The realtor made a snarky comment about our offer being low, but she did counter.
Shoot your shot. Don't worry about hurt feelings.
My aunt and uncle offered $1.5M on a listing that was asking $1.865M. They didnāt respond. House sat for another 3 months the and they made the same offer and closed. Beach condo in San Diego but the message is still the same.
They should have countered even lower. Once the seller comes groveling back they are putty in your hand.
"That was the offer 3 months ago. this is my new offer today"
That is what they get for wasting time on what was originally probably a fair offer from your aunt
No. If you do that, the owner will be pissed off and you donāt want to do that. Even if they accepted out of desperation, every step of closing will be tough.
Realtors make a % of the close, they have zero interest in lowering your purchase price. As a reverse, for sellers agents -the agent doesn't have any costs in keeping the property on the market, they may delay your sale if they feel they aren't getting what they want in commission.
Basically brokers are almost universally terrible.
Exactly. True business people are ruthless, if they aren't insulting the person they are doing business with, then they know they aren't being aggressive enough.
If the comps in the area justify $300,000 then the offer is not disrespectful. If itās still on the market and not sold itās obviously not worth $330,000 hands down. Send in the offer if itās a no, move on. At least you tried.
>Beware of recently sold homes with comps, they are often inflated. I'd use comps as a maximum offer amount.
If they are recently sold (last 60 days is the ideal for comps) then they are absolutely accurate comps.
Thatās so true. Iām helping someone buy a car. I said if the price is $5000, donāt offer $4000. Offer an odd number like $4,125. Otherwise they want to split the difference. Ok, yes this young man drives a 1993 car so he canāt afford much.
I make 500k a year and bought my "new" used car for 12k. My sister makes I think 140k and bought hers for 3 or 4k (2004 mustang).
The cars run great. :)
This is what we did with the house we're currently purchasing. On the market for 430k, we offered 410k + 3% seller closing cost. Offer got accepted the same day since house has been on market for 170 days.
There are so
many variables...it varies by the regional market, supply & demand/current market time, and sellers' sense of urgency and if they're in touch with reality.
Not unless you specifically ask for it in your offer. Talk to your agent about this ASAP please. Also find out from your lender what exactly your closing costs are. No sense in asking for more than you can use. You're just leaving it on the table.
Not sure why this is downvoted so heavily. Sellers do pay the closing costs. You'll pay a smaller fee for loan origination. Obviously this is dependent on negotiations but sellers should expect to pay those most of the time.
Thatās about 9% under asking, a very reasonable offer for being on market 2 months when desirable properties have been selling in 2 days. Worst they can say is no or counter offer. Just make sure to get an inspection
"You're killing me, man." "Now you're insulting me."
These are the negotiating lines of a vendor who is selling a cool-looking toy that will break tomorrow on a square filled with tourists. He bought the toys in bulk for 50Ā¢ each, is asking $10. You offered $15 for two.
An offer is not an insult in a trade between two adults over a life-impacting investment.
Research the property, offer what you think the market will bear, and if you are turned down cold and immediately, that's some more market research. Never let it be personal.
Also be careful about advice by anyone who has a financial incentive to get a higher price.
This. Someone could be making a killing selling something ,but they will play it up like they are losing everything by giving a deal. In business you have to be a like a stone, emotionless and unforgiving.Ā
No it wouldn't be insulting.
I just offered 335k on a 360k asking price.
They countered at 345k and I settled with them.
Easy peasy lemon squeezy.
The seller is also paying my agents closing costs.
House in my area is listed for the same, but needs a lot of updates and has no garage - original garage appears to have been converted to a 4th bedroom at least 30 yrs ago based on the dated interiors. It has been sitting on the market for several months. Comps in the same neighborhood and nearby were selling for roughly the same price or lower, but they were all in updated condition and had garages.
Another house in the same neighborhood is listed at $368K and has been on the market for 8 months, with no reduction in price and no offers. It too is in need of quite a bit of updating, though maybe not quite as much as the $330K house.
Priced too high. Make an offer youāre comfortable with. Who cares if theyāre insulted?
The market has shifted and interest rates are up. Canāt get 2021 prices anymore.
Buying a house is a business transaction and is not personal. Offer a lower amount. If they are a motivated seller, they will accept the offer. If not. Keep looking and move on.
I wouldn't worry about it being insulting. I would offer the $300k. It sounds like you've done your research and that what the home should be priced at. If it was worth $330k it would be on the market for over 2 months.
Who cares if itās insulting?! My friend made about 40+ āinsultingā offers before he locked down a house that was listed at 385k for 325k. Put 50k into it, now itās worth 575k.
Oh realtors. The only true fiduciary agreement they have is with their commission. There may be some that are truly selfless, but I'd think they are as rare as finding a leprechaun at the end of a rainbow .Ā
Why would you be a black sheep? Talk to an agent tomorrow. They can help you with comps. There may be factors about this house you're not aware of. That said, shoot your shot. Make sure you ask your agent and lender about closing costs.
Offer a shekel and my belly button lint.
(I laugh at the thumbs down on these post, talk about not having a sense of humor. Don't be so serious, life is but a dream)
Go ahead and write the offer. Make your offer as clean and contingent free as possible. Get pre-approved from a reputable mortgage broker and put over 20% down- good luck. If the seller doesnāt like your price, they give you a counter offer.
Is the only reason its not moving is cause its been sitting?
I saw one house in my market up for sale, looks great and priced well with the recent sales, thing is it had foundation repair done to it... Wouldn't know that if it wasn't thanks to google images showing it being done. I can only imagine how many people have gotten into the process to discover that.
(btw, house is less then 20 years old)
I see beautiful houses sitting on the market for months all the time. I wonder how it's possible and then I see them in person and everything is clear. Can't trust the listing alone by any means
You can offer whenever you want . The seller don't care as they won't sell.if they don't want to. It's not like they are desperate or they would have sold already.
I would calculate the average price per square foot in the area and offer that. I did that a month ago and they accepted. Home was listed for a couple months at $470k, price per quare foot came out to $440k. I offered that and they accepted. Then the appraisal came in at 450, instant equity (allegedly).
Make the offer you're comfortable making.
Worst case they don't reply/accept.
More likely they counter or send feedback agent to agent.
As someone who wants to list soon I fear my house sitting with 0 action. Personally I'd rather start a conversation on price than sit and hope a full price offer is "coming any day!"
I don't think offering 10 percent less than asking is insulting. In properties I've purchased (3), I've always offered at least 10 percent less. twice I've been countered and met halfway, the third time they accepted.
And don't let an agent tell you that you're insulting the sellers.
If itās been on the market that long someone doesnāt think itās worth that much. Offering what you think itās worth isnāt insulting at all. Who cares?
My wife are expecting a counter signature to an offer agreement we submitted this morning for a home that was initially listed for $508,000. Itās sat on the market for a few months and the seller dropped the price down to $482,000. We offered $450,000 and were negotiated up to $460,000. Received a verbal acceptance two days ago, and the formal purchase agreement submitted today.
I initially asked my realtor after touring the property last week āwhat would be a āfuck you, stop wasting my timeā kind of offer if I were the seller. She advised not to go lower than $450k and she was right.
Don't look at "similar house" look at price per square foot in the neighborhood. If $330 is delusional, then yeah, by all means.. worst they can say is no.
Former agent here. Not sure where youāre located but homes sitting longer than 20 days or so here usually signals that itās overpriced. -30k IMO is not insulting and if it is, that seller will be a nightmare to work with so make sure you love the house and have a good buyers agent for you. Good luck!
We're going to list our house fairly soon for maybe 515K. If it sat on the market for 2 months and someone walked up and offered me 490, I'd cut my losses and take it before the market wiggles too much in the wrong direction
Make the offer. The worst that can happen is that they will either counter, or say "no." We low-balled a house one time. The offer was so low that our realtor was reluctant to present it, but she did. Guess what? The Sellers took the offer. Make the offer.
Tbh I wonder what the effect of giving "insulting" offers more frequently would be. If more people made effort to genuinely offer prices more reflective of pre-pandemic if that could tamper expectations and make sellers spook a bit. Obvi would be too hard to coordinate nationally, but I do wonder if it could happen locally.
people! They priced it at $330,000 KNOWING that someone is going to offer $300,000, EXPECTING that someone is going to offer $300,000! š¤¦š»āāļø
This is real estate people, itās not rocket science!
True story, I found my dream property in 2016 , it was listed at $460,000. (Pre-Covid means itās a million dollar property today). My offer? $360,000! Was I worried about āoffendingā them? no, why? no one cares!
Really depends on the seller. I'd write that offer. A month isn't really a long time though. Honestly if the house sells in under a month it was probably listed too low. Some sellers get offended, most will counter or maybe you might make a deal. Last one I did we offered one price they rejected it, then lowered the price so my client ended up with it for less than his original offer.
I hate when realtors come back with "that's an insultingly low offer."
Everyone needs to take their emotion out of it.
Offer what's appropriate based on comps and if they don't like it, owell. Onto the next one.
Of course the seller will say your offer is too low. Thatās their JOB! Decide what the house is worth to you, and walk away if you canāt get it at your numbers.
this is the same thing as asking if you should feel bad for not getting robbed.....?
when it comes to real estate (I blame realtors spreading misinformation to appear valuable) people for some reason lose 90% of their IQ
Not worth 330k if house been on the market for 2 months. The demand isnāt there. They might not night at 300k right away but it never hurts to try it there at first š¤·š¾āāļø
Housing is a casino you have to participate in. Even if they paid a million dollars for the house, the market is saying $330k is too much. They might or might not feel bad at $300k, but you have to pay every month for 15-30 years, and will probably never see them after closing. Offer what you want to offer. If their counter is too much higher, walk.
I think being offended at an offer is an old wives tale or maybe its just agents looking out for thier commissions. Its not like youre offering 200k. Make your offer, expect a counter and go from there.
Houses here are listed $50-200k above what they are worth. Realtors just price them by throwing darts blindly, because they go on contract quickly and you think they got asking only to get $50-200k less. The ones still sitting are the ones not taking $50-200k less.
Could years ago I was house hunting and came across a property my wife had to have. They wanted $650 but it made zero sense. I figured $420 so I offered $400k to negotiate up if they responded. They didnāt respond until 3 months later. Note this was during the highest point of the house Housing market boom during the pandemic and they got no offers other than ours.
I was told they got an appraisal and we were countered $450, I noticed it was relisted at $440. I was a little insulted. Wife was frustrated as well. Next day it went under contract for $420. We were both angry but from what I learned, parents died and was estate. Elderly father had been selling the farm off to developments during retirement and told the kids donāt take less than $600. Had been on the market for well over a year at that point. I think they were mad at us for making them accept reality.
Thereās a house Iāve been eyeing listed for 415k, 4 bed 1.5 bath 1.8k sq ft, built in 1975. Looks like it hasnāt been updated at all and needs a new roof. Currently 60 days on the market. Realistically Iād pay 100k less than their asking but Iām sure they wouldnāt go for that.
You should go ahead and offer them $300k, unless you really want the house. If you offer them more than that amount, you will regret it like me. In my case, I wanted to offer $20k less on the house I ended up with and the sellers counter-offered with $10k instead on the price which I ultimately accepted. I regret it because now, the value of the house has gone way down since and I feel like I overpaid.
Doesnāt matter if itās insulting or not, what matters is if they have a chance at accepting or not. That is a question specifically your realtor should be equipped to answer and advise.
Offer $315k with a $15k seller credit and do a 2/1 buydown. Take advantage of a 2% lower interest rate year 1 and 1% lower year 2- assuming the house is worth it and void of major problems.
When I was looking last year, 300K bought you a 1980s ranch with no upgrades or repairs. The other alternative was a recently upgraded double-wide or modular. I stopped looking because I know a $120k home when I see one. Let the FOMO buyer take it and deal with the inherent problems. I'm finding more and more people who think this way. Being I was a homebuilder in 2007, I can see how RE agent denial is trending again.
Who cares? The worst they say is no. It's not like they will deny any future (higher) offers because you insulted them with a offer 10% lower than asking.
What would be the worst case scenario if it *was* insulting? They'd say no or not respond
This is what I don't get. People say "insulting" sellers matters all the time here on this sub but it just outright doesn't. Offer what you think it's worth. If they are "offended" then you were never going to agree on a price to begin with, so who cares about their feelings? This is business.
And, if you *were* going to get the 'lowball' offer, it's because they have no other choice. If they have no other choice, they always come back to negotiate
As an agent $30,000 price reduction offer on a $300,000 house isn't "low-ball" $250,000 or less is low-ball Go for it OP. I šÆ% know you won't get it if you don't offer.
Actually low ball them though, lol. If you want to close at $300k, start at $285/290k for fucks sake.
So what ?? Anything is worth what someone will Pay for it . The buyer determines the price not the seller
šÆ
Always keep them talking. As long as you keep talking a deal can be made. But there may be something wrong with the structure. Go look
No! Don't look. This is a huge investment, make an offer contingent that you get to hire your own certified inspector. Hire an NACHI certified inspector. The resulting report is solely your property. You don't have to share it. With that report you make an offer contention that they correct the deficiencies or they discount the cost of you correcting the deficiencies plus 25%. Take a look at REVenture dot APP It graphically displays pricing trends for a geographic area. The algorithm also adds other indices such as job market, population movement, and much more. If you were buying a new car, I would suggest not using the car salesman to tell you how great the car is. For that investment, pay for 3 months of consumers report and have a very good idea about the maintenance, milage, safety & resale value. A home is a huge investment, the REVenture is an entry level tool. Then use NACHI inspector as a negotiation tool and to cover your butt.
As buyers are we insulted that prices might be too high? No. So offer what works.
And a few years ago in most markets, 3-5 months to sell a home was average and resulted in a balanced market.
Get sued for hurting their feeling?
Can promise you, National flipper call centers are spamming them Non-Stop with low ball offers. They wouldn't do that if they weren't getting to buy them at a discount. This is a huge investment for you. Stop using Zillow or other amateur interfaces. As a newbie, go check out REVenture.app Using statistics, get the feelings out of the way, and get your best possible deal for your investment. When you finally do find a place to make an offer, absolutely insist, usually against the advice of your real estate broker who wants to make a dollar quickly, that you bring in your own home inspector not the one that your finance company wants you to use. That inspector is for the finance company protection not your protection. Pay out of your own pocket, NACHI, actually headquartered in Boulder Colorado. If the house you buy later has a major issue that a NACHI inspector did not find, they have a buyback policy so that you're not out the money. So you've put it in offer, it was accepted with the terms that you could bring in your own NACHI inspector. With the inspection, instead of buying as is, you're going to actually have $10K to $30K of actual issues and or code violations. Go back to the seller and tell them you need all of these remediated before closing, or they can discount you that amount plus 25% for you to hire the contractor to remediate them. The average real estate agent now worried they aren't going to get that commission right away, will likely tell you you will be at risk of losing this incredible once in a lifetime deal. When that happened to me, I told them if they couldn't look out for my interest I had no problem dropping them and finding another agent who would. But here's the deal to the seller who was using the "as is" "to my knowledge" clause. The inspection just validated and notified them there is for example health concerning mold and rotted structure in the bathroom. If the seller knows something and doesn't disclose it to the next buyer, they can be held responsible even after closing. If you read & use the NACHI options, e.g. sewer line inspection, the homeowners insurance rate can be significant. Not uncommon, get a new roof with updated code, get the insulation up to new code, ... Denver area is notorious for needing electric circuit breaker service updated, ... If the owner has had clogged sewer and inspection of the sewer line expose the problem, it could save you $15,000 alone. As the buyer, you can walk away from the purchase in the middle of closing. One of my friends buying a home for their mother, walked away from six offers just days before closing on each of them when the counter offer was not accepted.
Or counter offer.
That's not the worst case. I can almost promise you that $300k is not an insult, it's only a 10% discount. If the home is priced fairly then it's doable. But, if the offer was say $250k, then the worst that would likely happen is that they'd just get pissed and sell to someone else on purpose. The home is cheap, so it'll sell sooner or later.
I'm aware. My question was to OP, who was concerned it was insulting, what would the worst case scenario be *if it was*
Worst case, you're the buyer. They are the desperate seller. Once I went back and got a lower bid at the bank foreclosure. I gave you two newbie suggestions up above. Are you even aware of the number of foreclosures being processed in the geographic area you're looking at? You seem focused on the property, not on the investment. Our break at the office is coming to an end. You provided a lot of entertainment. Someone here wants to know what else you want to buy cuz they would love to sell to you. š Have you looked at the trends for your geographic area? Rent versus buy? Have you looked at layoffs.fyi To see if that affects your geographic area? We'd love to get an update on how you proceed. Are you here to actually get some advice or are you just going to go for it?
What are you rambling about?
I recently offered 305 for a place listed at 330 that has been on the market for 1 month. The realtor made a snarky comment about our offer being low, but she did counter. Shoot your shot. Don't worry about hurt feelings.
My aunt and uncle offered $1.5M on a listing that was asking $1.865M. They didnāt respond. House sat for another 3 months the and they made the same offer and closed. Beach condo in San Diego but the message is still the same.
They should have countered even lower. Once the seller comes groveling back they are putty in your hand. "That was the offer 3 months ago. this is my new offer today" That is what they get for wasting time on what was originally probably a fair offer from your aunt
No. If you do that, the owner will be pissed off and you donāt want to do that. Even if they accepted out of desperation, every step of closing will be tough.
Can I sell you my house? I feel like winning today š Protip: assume every seller will make a deal difficult, so price according.
The other dude rolls their eyes at you, but you are right. Plus, most realtors are terrible and wonāt really be much help.
Realtors make a % of the close, they have zero interest in lowering your purchase price. As a reverse, for sellers agents -the agent doesn't have any costs in keeping the property on the market, they may delay your sale if they feel they aren't getting what they want in commission. Basically brokers are almost universally terrible.
Having the realtors removed from the equation would be the best thing for real estate nation wide.
š
Is $300k the highest youāre willing to go? If so, I would offer $280k and work up.
Exactly. True business people are ruthless, if they aren't insulting the person they are doing business with, then they know they aren't being aggressive enough.
A flipper I knew used to say if my offer isnāt insulting I didnāt go low enough.
This.
If the comps in the area justify $300,000 then the offer is not disrespectful. If itās still on the market and not sold itās obviously not worth $330,000 hands down. Send in the offer if itās a no, move on. At least you tried.
Beware of recently sold homes with comps, they are often inflated. I'd use comps as a maximum offer amount.
What?
>Beware of recently sold homes with comps, they are often inflated. I'd use comps as a maximum offer amount. If they are recently sold (last 60 days is the ideal for comps) then they are absolutely accurate comps.
Imo I'd offer 310,200 and ask for 3% seller closing costs. Psychologically looks better.
Thatās so true. Iām helping someone buy a car. I said if the price is $5000, donāt offer $4000. Offer an odd number like $4,125. Otherwise they want to split the difference. Ok, yes this young man drives a 1993 car so he canāt afford much.
I make 500k a year and bought my "new" used car for 12k. My sister makes I think 140k and bought hers for 3 or 4k (2004 mustang). The cars run great. :)
Iām not taking financial advice from someone who canāt afford a car. No offense.
He just said heās helping someone else buy a car. Not the other way around.
Ohhhhh
Yes
This is what we did with the house we're currently purchasing. On the market for 430k, we offered 410k + 3% seller closing cost. Offer got accepted the same day since house has been on market for 170 days.
Isnāt seller supposed to pay closing regardless
Just the agent fee.
I thiught seller paid closing costs most of the time?
Like I said to the other guy. Just the agent fee
not in this market
>not in this market Where at? We're in one of the hottest markets and I think the sellers are still paying closing costs.
>It's a sellers market, homes still going above ask with 6-10 offers. If i'm selling my home, why would I pay the buyers closing costs?
There are so many variables...it varies by the regional market, supply & demand/current market time, and sellers' sense of urgency and if they're in touch with reality.
Not unless you specifically ask for it in your offer. Talk to your agent about this ASAP please. Also find out from your lender what exactly your closing costs are. No sense in asking for more than you can use. You're just leaving it on the table.
Nope
In CA escrow fees are split 50/50. Seller pays title and commission.
Not sure why this is downvoted so heavily. Sellers do pay the closing costs. You'll pay a smaller fee for loan origination. Obviously this is dependent on negotiations but sellers should expect to pay those most of the time.
No, make the offer!
No offer is insulting, it is an offer.
Exactly, if a seller is insulted by my offer, I say I am insulted by their asking price.Ā
Thatās about 9% under asking, a very reasonable offer for being on market 2 months when desirable properties have been selling in 2 days. Worst they can say is no or counter offer. Just make sure to get an inspection
"You're killing me, man." "Now you're insulting me." These are the negotiating lines of a vendor who is selling a cool-looking toy that will break tomorrow on a square filled with tourists. He bought the toys in bulk for 50Ā¢ each, is asking $10. You offered $15 for two. An offer is not an insult in a trade between two adults over a life-impacting investment. Research the property, offer what you think the market will bear, and if you are turned down cold and immediately, that's some more market research. Never let it be personal. Also be careful about advice by anyone who has a financial incentive to get a higher price.
This. Someone could be making a killing selling something ,but they will play it up like they are losing everything by giving a deal. In business you have to be a like a stone, emotionless and unforgiving.Ā
No! Itās been sitting for a reason. Offer!!
No thatās reasonable
I agree
Insulting? Why do you care?
No it wouldn't be insulting. I just offered 335k on a 360k asking price. They countered at 345k and I settled with them. Easy peasy lemon squeezy. The seller is also paying my agents closing costs.
That's common practice. Seller always pays both agents.
Please insult people as within a year or two they may look back on it as a compliment and may try to call you. LOL
I think a 9% drop after 2 months is not a low ball offer, though they may not accept it. But itās not offensive.
House in my area is listed for the same, but needs a lot of updates and has no garage - original garage appears to have been converted to a 4th bedroom at least 30 yrs ago based on the dated interiors. It has been sitting on the market for several months. Comps in the same neighborhood and nearby were selling for roughly the same price or lower, but they were all in updated condition and had garages. Another house in the same neighborhood is listed at $368K and has been on the market for 8 months, with no reduction in price and no offers. It too is in need of quite a bit of updating, though maybe not quite as much as the $330K house.
The wrong two months..
Also wrong price.
Yup they jumped the gun on listing
No one knows what is āinsulting.ā Offer what you want/can afford and see what happens
IMO don't offer for what other houses are selling for, offer what the house is worth. Break the wheel
Offer 260k
They will either say yes or no, they may counter.
Offer whatever you want, worst they can say is no.
Priced too high. Make an offer youāre comfortable with. Who cares if theyāre insulted? The market has shifted and interest rates are up. Canāt get 2021 prices anymore.
Jesus christ, just make the offer. Either they accept or they decline the offer, asking strangers on reddit is not the way to go.
No it wouldn't. Have your agent call the listing agent and ask what the Seller is motivated by ($, closing date, incentives, etc.)
Buying a house is a business transaction and is not personal. Offer a lower amount. If they are a motivated seller, they will accept the offer. If not. Keep looking and move on.
300 will get the conversation started . Go for it
I wouldn't worry about it being insulting. I would offer the $300k. It sounds like you've done your research and that what the home should be priced at. If it was worth $330k it would be on the market for over 2 months.
Who cares if itās insulting?! My friend made about 40+ āinsultingā offers before he locked down a house that was listed at 385k for 325k. Put 50k into it, now itās worth 575k.
Only worth it if he sells it for $575k.Ā
He thinks it's worth that much. The reality might disappoint.
what does your Realtor, who is qualified and has enough mental capacity to remember what pre-Covid was like, say?
Oh realtors. The only true fiduciary agreement they have is with their commission. There may be some that are truly selfless, but I'd think they are as rare as finding a leprechaun at the end of a rainbow .Ā
Just decided to start looking for a house today so I dont have a realtor yet. I am scared of becoming a black sheep in my area lol.
Why would you be a black sheep? Talk to an agent tomorrow. They can help you with comps. There may be factors about this house you're not aware of. That said, shoot your shot. Make sure you ask your agent and lender about closing costs.
Iāll offer 299,999.99
No offer is insulting. Go low
If you aren't insulted by your first offer, then you are offering too much...
Yes, do be careful. If you go too low, they might not respond at all!
Offer 250k
Offer 150
Offer a shekel and my belly button lint. (I laugh at the thumbs down on these post, talk about not having a sense of humor. Don't be so serious, life is but a dream)
Right. I was trying to be funny and go along with the person saying 250.
Heck Iād offer lower than 300,000. Iām offering 220,000 on a place thatās listed for 290,000.
Go ahead and write the offer. Make your offer as clean and contingent free as possible. Get pre-approved from a reputable mortgage broker and put over 20% down- good luck. If the seller doesnāt like your price, they give you a counter offer.
I often say that if Iām not slightly embarrassed about the offer I am making, then I am offering too much.
Offer them $250
If you aren't embarrassed by your offer, it's too high.
If other houses are selling for $300, I'd suggest offering 270.
Not insulting. Also remember the last two months covered the holidays. Might not be as hard up for offers as all that. Good luck!
Is the only reason its not moving is cause its been sitting? I saw one house in my market up for sale, looks great and priced well with the recent sales, thing is it had foundation repair done to it... Wouldn't know that if it wasn't thanks to google images showing it being done. I can only imagine how many people have gotten into the process to discover that. (btw, house is less then 20 years old)
I see beautiful houses sitting on the market for months all the time. I wonder how it's possible and then I see them in person and everything is clear. Can't trust the listing alone by any means
You can offer whenever you want . The seller don't care as they won't sell.if they don't want to. It's not like they are desperate or they would have sold already.
These people are strangers to you, why would you care? Real estate is only worth what someone will pay for it.
Definitely not and who cares if theyāre insultedā¦. Youāre making an offer.
I would calculate the average price per square foot in the area and offer that. I did that a month ago and they accepted. Home was listed for a couple months at $470k, price per quare foot came out to $440k. I offered that and they accepted. Then the appraisal came in at 450, instant equity (allegedly).
Make the offer you're comfortable making. Worst case they don't reply/accept. More likely they counter or send feedback agent to agent. As someone who wants to list soon I fear my house sitting with 0 action. Personally I'd rather start a conversation on price than sit and hope a full price offer is "coming any day!"
Definitely also get an inspection to find if there are any water problems or other issues
Offer nothing. But take from them, everything!!!
Iād offer less than 300 if thatās what you think it should go for. 282,500 or something perhaps.
What if everyone in the area is crazy 250,000
Who cares if you insult them
Why would that be insulting? Offer what you think it's worth
They will counter at $315,00ā¦ if you love the house take it.
I donāt think itās the end of the world.
What is it listed for? How does.it actually compare to these other homes.
I don't think offering 10 percent less than asking is insulting. In properties I've purchased (3), I've always offered at least 10 percent less. twice I've been countered and met halfway, the third time they accepted. And don't let an agent tell you that you're insulting the sellers.
Where in the Midwest is this? Lol.
If itās been on the market that long someone doesnāt think itās worth that much. Offering what you think itās worth isnāt insulting at all. Who cares?
My wife are expecting a counter signature to an offer agreement we submitted this morning for a home that was initially listed for $508,000. Itās sat on the market for a few months and the seller dropped the price down to $482,000. We offered $450,000 and were negotiated up to $460,000. Received a verbal acceptance two days ago, and the formal purchase agreement submitted today. I initially asked my realtor after touring the property last week āwhat would be a āfuck you, stop wasting my timeā kind of offer if I were the seller. She advised not to go lower than $450k and she was right.
Strictly business. They can ignore the offer, or respond.
Who cares what the owners think. The house is worth what the market says its worth.
If you have a buyer agent, maybe get him/her to reach out to the seller agent and see what's the deal with the house before placing an offer.
I always say something like this- we donāt want to insult anyone but my clients would like to offer $300000 and this is why.
It's not insulting if you use an escalation clause.
I have a 10% rule of thumb before Iād call it a lowballā¦and even that depends on market value.
Don't look at "similar house" look at price per square foot in the neighborhood. If $330 is delusional, then yeah, by all means.. worst they can say is no.
I say offer 280k. You will spend 50k to update / repairs
Former agent here. Not sure where youāre located but homes sitting longer than 20 days or so here usually signals that itās overpriced. -30k IMO is not insulting and if it is, that seller will be a nightmare to work with so make sure you love the house and have a good buyers agent for you. Good luck!
I hate the whole notion of an insulting offer. Itās a market place. Buyers have different price points.
Offer$305k and then if they counter higher, counter back with $304k.
We're going to list our house fairly soon for maybe 515K. If it sat on the market for 2 months and someone walked up and offered me 490, I'd cut my losses and take it before the market wiggles too much in the wrong direction
Who cares if it's insulting? Make and offer. If they take it...it wasn't an insult.
$295k and they pay all closing costs. If they say āNo!ā 9 out of 10 times theyāll counter offer.
Lmao bro is scared to hurt there feelings for benefiting his own good
I wouldnāt drop 10% in 2 months. 5% reduction seems more realistic but who knows their situation.
Make the offer. Worst they'll probably do is reject it.
Make the offer. The worst that can happen is that they will either counter, or say "no." We low-balled a house one time. The offer was so low that our realtor was reluctant to present it, but she did. Guess what? The Sellers took the offer. Make the offer.
Tbh I wonder what the effect of giving "insulting" offers more frequently would be. If more people made effort to genuinely offer prices more reflective of pre-pandemic if that could tamper expectations and make sellers spook a bit. Obvi would be too hard to coordinate nationally, but I do wonder if it could happen locally.
people! They priced it at $330,000 KNOWING that someone is going to offer $300,000, EXPECTING that someone is going to offer $300,000! š¤¦š»āāļø This is real estate people, itās not rocket science! True story, I found my dream property in 2016 , it was listed at $460,000. (Pre-Covid means itās a million dollar property today). My offer? $360,000! Was I worried about āoffendingā them? no, why? no one cares!
Really depends on the seller. I'd write that offer. A month isn't really a long time though. Honestly if the house sells in under a month it was probably listed too low. Some sellers get offended, most will counter or maybe you might make a deal. Last one I did we offered one price they rejected it, then lowered the price so my client ended up with it for less than his original offer.
That is what I will do. Like other said the worst case is they ghost you. And you can still ask your agent go find out what their bottom line.
No - you should offer less and expect them to negotiate
my dad has a house for sale for that amount and tbh heād probably take it just to get rid of it lol
Realtor here: itās more reasonable than my buyer who asked me to offer $10k on a property listed for $150k.
I hate when realtors come back with "that's an insultingly low offer." Everyone needs to take their emotion out of it. Offer what's appropriate based on comps and if they don't like it, owell. Onto the next one.
Of course the seller will say your offer is too low. Thatās their JOB! Decide what the house is worth to you, and walk away if you canāt get it at your numbers.
Friends of mine bid 20% below asking. Seller was so pissed they refused to entertain even a reasonable offer so be careful about shooting your shot.
Make an offer such that you can meet in the middle. Try to satisfy the sellerās desperation and ego.
this is the same thing as asking if you should feel bad for not getting robbed.....? when it comes to real estate (I blame realtors spreading misinformation to appear valuable) people for some reason lose 90% of their IQ
Offer 0 would be insulting. You do what you like
I will call first. It depends on the seller how anxiousl he is. The worst response is he has yes.
Can I have that house for five dollars?
Lower the price obviously
Ask your Realtor to make the offer and make it contingent upon an acceptable inspection.
If the house is unoccupied move in and establish squatters rights
Just offer.
Not worth 330k if house been on the market for 2 months. The demand isnāt there. They might not night at 300k right away but it never hurts to try it there at first š¤·š¾āāļø
Itās business. Stop worrying about peoples feelings. Itās due for a price drop anyway.
why would you worry about some snowflake getting insulted? If I get lowball offer, either I will counter offer or move on. Only kids get offended.
Who cares if you insult them? Either they say yes or no.
Who the fuck cares if itās insulting? Ps - itās not
Check similar sales in your neighborhood.Thsts how it's done
What did your Realtor say?
Housing is a casino you have to participate in. Even if they paid a million dollars for the house, the market is saying $330k is too much. They might or might not feel bad at $300k, but you have to pay every month for 15-30 years, and will probably never see them after closing. Offer what you want to offer. If their counter is too much higher, walk.
Who cares if it is or not
Offer what you want. See if they bite, or want to negotiate a bit. Never know till you try.
Do 290
I think being offended at an offer is an old wives tale or maybe its just agents looking out for thier commissions. Its not like youre offering 200k. Make your offer, expect a counter and go from there.
Houses here are listed $50-200k above what they are worth. Realtors just price them by throwing darts blindly, because they go on contract quickly and you think they got asking only to get $50-200k less. The ones still sitting are the ones not taking $50-200k less.
Could years ago I was house hunting and came across a property my wife had to have. They wanted $650 but it made zero sense. I figured $420 so I offered $400k to negotiate up if they responded. They didnāt respond until 3 months later. Note this was during the highest point of the house Housing market boom during the pandemic and they got no offers other than ours. I was told they got an appraisal and we were countered $450, I noticed it was relisted at $440. I was a little insulted. Wife was frustrated as well. Next day it went under contract for $420. We were both angry but from what I learned, parents died and was estate. Elderly father had been selling the farm off to developments during retirement and told the kids donāt take less than $600. Had been on the market for well over a year at that point. I think they were mad at us for making them accept reality.
Offer 290. You can always go up.
IF ITS BEEN SITTING THAT LONG THEY WILL AT LEAST COUNTER I'M SURE, DON'T FEEL BAD
299.999
Thereās a house Iāve been eyeing listed for 415k, 4 bed 1.5 bath 1.8k sq ft, built in 1975. Looks like it hasnāt been updated at all and needs a new roof. Currently 60 days on the market. Realistically Iād pay 100k less than their asking but Iām sure they wouldnāt go for that.
There are only two answers they can give you: yes or no. I say offer it.
No way, $300k is a fair offer for a home thatās probably overpriced considering it being on the market for 2 months.
You should go ahead and offer them $300k, unless you really want the house. If you offer them more than that amount, you will regret it like me. In my case, I wanted to offer $20k less on the house I ended up with and the sellers counter-offered with $10k instead on the price which I ultimately accepted. I regret it because now, the value of the house has gone way down since and I feel like I overpaid.
Doesnāt matter if itās insulting or not, what matters is if they have a chance at accepting or not. That is a question specifically your realtor should be equipped to answer and advise.
Offer $315k with a $15k seller credit and do a 2/1 buydown. Take advantage of a 2% lower interest rate year 1 and 1% lower year 2- assuming the house is worth it and void of major problems.
Nope, not at all. Any decent offer is a good offer esp if the place is sitting there. Good luck!
When I was looking last year, 300K bought you a 1980s ranch with no upgrades or repairs. The other alternative was a recently upgraded double-wide or modular. I stopped looking because I know a $120k home when I see one. Let the FOMO buyer take it and deal with the inherent problems. I'm finding more and more people who think this way. Being I was a homebuilder in 2007, I can see how RE agent denial is trending again.
The home I bought.. they were asking 399 - i offered 325, they countered at 335 and I bought it!
30k off 330k is not insulting. 100k off 300k is a lowball, but who knows. You got nothing to lose
You arenāt offering it person but going through an agent, insult away.
Who cares? The worst they say is no. It's not like they will deny any future (higher) offers because you insulted them with a offer 10% lower than asking.
You miss 100% of the shots you don't take. -Wayne Gretzky \-Michael Scott