How much Below asking should you offer when buying a house?

[KnappShack]

When my folks sold their home a number of years ago they got a low-ball offer and my Dad told his agent to tell their agent to tell his clients to go f themselves.

Was the property on the market 700 days?

I got a lowball when I sold my first house. The parents of the buyer couldn't believe Des Moines could have an actual real estate market.

It's all part of selling a home. Shoot low. See if the guy bites. In this case make dang sure you want to own the home long term or you'll be on the wrong end of a 700 day marketing time at some point.

 

[dosry5]

Offer whatever you want to pay. It doesn't have to be an official in-writing offer. The thought of a seller being "offended" by an offer is rather ridiculous, especially for a house that has sat for-sale for 700 days.

Both agents have a vested interest in the highest selling price possible, so they cannot necessarily be "trusted" to do what is in your best interest as a buyer. Exceptions, of course, include @charterhouse.

Why is Charter House an “of course” exception? Have you actually worked with him? Because I’d disagree....

 

[KCCLONE712]

When my folks sold their home a number of years ago they got a low-ball offer and my Dad told his agent to tell their agent to tell his clients to go f themselves.

That means they are selling with their emotions, while understandable, their realtor shouldn't. That means that they are going to value their house more than it's worth and unless this is the ONLY house you will be happy with you aren't going to get the best deal you can possibly get, so move on to the next. As it has been stated there are many housing options on the market in the DSM metro within these price points.

 

[Cycsk]

Why is Charter House an “of course” exception? Have you actually worked with him? Because I’d disagree....

Hey, Charter is a friend (sponsor) of the website, so I'm going to assume that he is an exception in every way to anything I don't like about realtors.

 

[Cycsk]

When my folks sold their home a number of years ago they got a low-ball offer and my Dad told his agent to tell their agent to tell his clients to go f themselves.

I doubt if he would have done that if his house hadn't sold in 60 million seconds (700 days).

 

[dosry5]

Hey, Charter is a friend (sponsor) of the website, so I'm going to assume that he is an exception in every way to anything I don't like about realtors.

Well, you know what they say about assuming....

 

[Gunnerclone]

We recently bough in Colorado Springs and found Zillow and Realtor to be out-dated. Many homes we were interested in had offers, were under contract or otherwise sold but weren't reflected that way.

But average days on market was only 25-ish so probably hard to keep all that data current.

Gotta use Redfin in hot markets.

 

[Dr.bannedman]

We recently bough in Colorado Springs and found Zillow and Realtor to be out-dated. Many homes we were interested in had offers, were under contract or otherwise sold but weren't reflected that way.

But average days on market was only 25-ish so probably hard to keep all that data current.

change ur name handle then

 

[SpokaneCY]

change ur name handle then

Gotta build the thing first.

 

[Dr.bannedman]

Gotta build the thing first.

hell ya dog can i come visit

 

[KennyPratt42]

I've bought 3 houses and sold 2 in the Des Moines metro in the last decade. One of them I sold was a multiple bid situation, but the other 4 have basically ended up halfway between the initial offer and the asking price. But I'm not one thats afraid to have a few rounds of back and forth negotiation.

In the OPs situation I'd figure out what I want to/was comfortable paying. Whatever the difference is between that and the asking price, I'd double and plan to meet somewhere close to the middle.

 

[mramseyISU]

I'm not particularly concerned about wasting 60 seconds of a seller's time when they have had the house on the market for 60 million seconds!

Its business, not friendship. If they don't like the offer, they can just say "no," much like I am doing with their asking price.

That’s kind of where my head is at but the wife is really worried about insulting somebody we’ve never met and probably won’t have any interaction with. I was thinking about offering like 15% under their listing and see if I get a go eff yourself or a counter offer. It’s already the lowest $/square foot in our (elementary) school district. The way I look at it is if they accept our first offer on a house that has been on the market as long as this one I offered too much.

 

[SpokaneCY]

hell ya dog can i come visit

Send a current head shot and promise to bring lots and lots of beer. Our new view will be amazing! Oh, and mushrooms are now somewhat legal...

 

[maureenowaters]

I offer a handsome prIce for a handsome lIsted. I thInk buIld a home is a better Idea than rentlng.

 

[cowgirl836]

I offer a handsome prIce for a handsome lIsted. I thInk buIld a home is a better Idea than rentlng.

The bots are becoming more sophisticated, it appears.

 

[BCClone]

The bots are becoming more sophisticated, it appears.

I never heard that phrase before, thought maybe it was millenial speak or something.

 

[mdk2isu]

I offer a handsome prIce for a handsome lIsted. I thInk buIld a home is a better Idea than rentlng.

Anyone else find it odd that every letter “i” is capitalized except one?

 

[maureenowaters]

I try to follow the writing skill, which I see here for the first time.

 

[cowgirl836]

Anyone else find it odd that every letter “i” is capitalized except one?

they look like capitalized L's but I guess those look identical IlIlIl

 

[SoapyCy]

I think the big issue for them is we have a 3 year tax abatement for new construction. That's making it hard to move a house that isn't new construction right now. The only reason I'm even considering it is the listing agent is putting together an offer just to buy me out of my house.

reason #1 why new construction tax abatement is a bad idea for cities. everyone needs a place to live and if no one offered them people would still build houses.