Real estate offer

Elom · ‎06-15-2010

Well I thought I would finally be moving on with my life and got an offer on my house from a couple who thought my house was beautiful. What a low ball offer i got. Well my realtor advised being aggressive with counter to see if they are serious. Oh well there was hope for a few minutes,

chrystaltree · ‎05-10-2010

Of course they low balled you, they are negotiating. That's the way the real estate game is played. The realtor will handle it.

millieshops · ‎03-09-2010

@Elom I'd assume there's still hope, but there are many factors to consider, the biggest one probably being what you have to have to get out of where you are. If you (and your realtor) know that, you have a good starting point. I also assume you left some room for negotiations because few buyers automatically pay the asking price in most markets. Therefore, I'd follow the advice and make that aggressive counteroffer and see what happens.

I do hope that buyer's realtor can talk them into raising their offer. It does happen - unles they are just "fishing" in prices they really can't afford.

Good luck.

tansy · ‎01-02-2011

If your home has been on the market longer than 60 or 90 days without an offer, you will most likely get a low offer.

henderson · ‎03-18-2010

We got a low ball offer once on a house we were selling. We were slightly offended and thought they were wasting our time. A few weeks later we sold our house for a good price.

Hoovermom · ‎03-19-2010

@Elom: Only you can accept the offer or not. If it is too low, counter with the bidder and see where it takes you. Again, if it is too low, decline the offer. Good luck!!

Q4u · ‎03-17-2010

We had a very low ball offer on our last house... with a very aggressive/bully realtor for the buyers. About 6 1/2 years ago and the market had dropped and the realtor decided to bully us into an unrealistic price. We did not cave and another couple became interested but before they offered, the original couple came up in price enough to buy the house.

We went across the country and found that there is an unspoken percentage here that a buyer can negociate down without the seller becoming insulted enough to cancel all negociations and refuse to sell to them, which I understand will happen here. This was advised by our realtor when we got here. So, now that we are selling our house (with the same great realtor) we are in this turmoil once again. Moving from the country, sizing down and into the city. Hopefully we will be "on our way" soon.... Good luck to you, hope you get an offer you're pleased with...

*~"Never eat more than you can lift......" Miss Piggy~*

chrystaltree · ‎05-10-2010

@tansy wrote:
If your home has been on the market longer than 60 or 90 days without an offer, you will most likely get a low offer.

Yes, that's quite true. If house has been on the market that long; savvy home shoppers know the sellers are anxious to sell and will entertain almost any offer. Also, they know they house isn't going to sell soon, so they have time to wait it out.

Elom · ‎06-15-2010

Well my offer went up $5000. After giving it much thought, it has been almost 4 yrs since my husbands passing and I need to move on with my life. I am going to make my decision tomorrow but it is a hard one. I do not want to spend another winter in this isolationism another year. I am putting restrictions on my acceptance it will be interesting if they object to those then I will know the true intentions.

Thank you for all the feedback wow this is not easy.

Financialgrl · ‎03-13-2010

@millieshops wrote:
@Elom I'd assume there's still hope, but there are many factors to consider, the biggest one probably being what you have to have to get out of where you are. If you (and your realtor) know that, you have a good starting point. I also assume you left some room for negotiations because few buyers automatically pay the asking price in most markets. Therefore, I'd follow the advice and make that aggressive counteroffer and see what happens.

I do hope that buyer's realtor can talk them into raising their offer. It does happen - unles they are just "fishing" in prices they really can't afford.

Good luck.

Agree. For 15 years I lived in an extremely well made rural custom home I'd bought as a resale bc of that.

Home prices were all over the map when I was selling and little was selling. My realtor knew I did not "have" to sell due to relocation, etc so we stayed just below the higher numbers for like acreage and sq footage and I had few showings. About 3 months in the market began showing much better defined price points- lowered it to that number and got 2 full price offers.

I lost $20K on that home (July 2016) bc I'd bought it during the real estate bubble in 2004 but I knew I had to decide how badly I wanted to sell and draw a line in the sand. It all worked out well for me bc I chose a model in a subdivision to build a new home and downsize into a home that is now the perfect size. Since I've begun that process in July 2016, the beginning price to build this same model has risen $35K higher than I paid - so in the end it was a win win all around.