post #21 of 21
6/10/09 at 11:26pm
Quote:
Originally Posted by 1littlebit View Post
i disagree with this. i mean i understand how you feel but i don't see anything wrong with making a low offer. the owner can say absolutely not... but that is not always wise b/c usually someone is willing to pay more then they offer and you wont know unless you counter offer. i wouldn't shut the door on any offer unless i had multiple offers to consider. and even then i would want to be reasonably sure the other offers were serious and likely to get approved and such.

i would offer significantly lower then i was willing to pay. why wouldn't you? people are often willing to take less then they are asking as well.
Yup. It makes sense to take this gamble b/c of the current situation. Sellers are going to be all over a lowball offer if they don't have any takers, or even any lookers.

We just closed on a condo that was assessed at a 114k, listed at 94, then down to 89,9. It sat on the market for 280 days. We started under 80k and ended up at 82,5 w/ seller to pay all closing costs. Nothing wrong w/ the condo, or location or city (in the top 50 actually yay! It's just that bad in some places right now.

OP try to find out as much as possible about the seller's situation. I figured we could bid low when I saw the sign-in sheet...it was the same sheet the seller started LAST August and wasn't even filled to the bottom yet.
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