Comments on: Is It Wrong To Make A Low Ball Offer? http://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Sellerhttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-12597 Seller Wed, 30 Jun 2010 04:44:52 +0000 http://www.moneycrashers.com/?p=602#comment-12597 Some low-ball offers just come across as entertainingly funny and ridiculously unreasonable not only to a seller, but also to the seller's agent, to the seller's family, to friends, to acquaintances...in short, to everyone but the "interested" buyer-bidder. When a great house originally listed for $350,000 (with an est. fair market value of $345,000 per property-tax reports) is dropped to $300,000, but a potential buyer offers $225,000 when the house has only been on the market a month and has had multiple showings each week, I'd say the owner might not necessaily be insulted, but instead just be too busy laughing over the "entertaining and humorous" attempt by the buyer, especially when the buyer isn't even pre-approved. LOL Looks like a mistaken flipper... Some low-ball offers just come across as entertainingly funny and ridiculously unreasonable not only to a seller, but also to the seller’s agent, to the seller’s family, to friends, to acquaintances…in short, to everyone but the “interested” buyer-bidder.

When a great house originally listed for $350,000 (with an est. fair market value of $345,000 per property-tax reports) is dropped to $300,000, but a potential buyer offers $225,000 when the house has only been on the market a month and has had multiple showings each week, I’d say the owner might not necessaily be insulted, but instead just be too busy laughing over the “entertaining and humorous” attempt by the buyer, especially when the buyer isn’t even pre-approved. LOL Looks like a mistaken flipper…

]]> By: authorhttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-6085 author Thu, 24 Jul 2008 03:47:51 +0000 http://www.moneycrashers.com/?p=602#comment-6085 Thanks for the advice from all three of you. I find that realtors make you feel bad about it as well. I don't like that. I am the customer. They shouldn't tell me how to buy something, but rather help me buy it. We will offer what we think it's worth. Actually, the situation is good. The house we're looking at is owned by a company that bought the house from a couple who was relocating because of a job. Basically, their company bought the house from them to lure them into the position. So, I won't be offending the seller or "taking advantage of their situation". This makes me feel a little better about putting in an offer about $50k less than the asking price. Thanks for the advice from all three of you. I find that realtors make you feel bad about it as well. I don’t like that. I am the customer. They shouldn’t tell me how to buy something, but rather help me buy it.

We will offer what we think it’s worth. Actually, the situation is good. The house we’re looking at is owned by a company that bought the house from a couple who was relocating because of a job. Basically, their company bought the house from them to lure them into the position. So, I won’t be offending the seller or “taking advantage of their situation”. This makes me feel a little better about putting in an offer about $50k less than the asking price.

]]> By: Victoria Phttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-6084 Victoria P Thu, 24 Jul 2008 01:36:11 +0000 http://www.moneycrashers.com/?p=602#comment-6084 Hey, you sound as though you are in a similar position that I was in a few months ago. In May, my fiancee and I bought a house here in Orlando. We decided we were comfortable with low-balling, but realized that it wouldn't do much good in many situations. The biggest problem? People are unwilling or unable to sell for less than their mortgage is worth, and in many cases, owners mortgages were higher than what we perceived to be the current value of their house. That was our experience! We did eventually find a home that was right for us, and we love it. Good luck! Hey, you sound as though you are in a similar position that I was in a few months ago. In May, my fiancee and I bought a house here in Orlando. We decided we were comfortable with low-balling, but realized that it wouldn’t do much good in many situations. The biggest problem? People are unwilling or unable to sell for less than their mortgage is worth, and in many cases, owners mortgages were higher than what we perceived to be the current value of their house.

That was our experience! We did eventually find a home that was right for us, and we love it. Good luck!

]]> By: Tim Coxhttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-6083 Tim Cox Wed, 23 Jul 2008 16:44:35 +0000 http://www.moneycrashers.com/?p=602#comment-6083 It depends on if they're elderly or not: Elderly, you need to offer something reasonable. Not elderly, you can offer whatever you want. It depends on if they’re elderly or not:

Elderly, you need to offer something reasonable.

Not elderly, you can offer whatever you want.

]]> By: Jacquelyn Hart-McCoyhttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-6082 Jacquelyn Hart-McCoy Wed, 23 Jul 2008 15:47:16 +0000 http://www.moneycrashers.com/?p=602#comment-6082 I think you are cheating yourself if you don't go for it in this kind of a market, you never know what price people will accept. I am seeing this happen a lot where I live. Some people can't afford to take a loss but some may have bought in the 80's or 90's and will still profit from your offer that is 30k less than asking price. I can say from experience that the relators will try to shame you into making a higher offer, but I never let that bother me. I think you are cheating yourself if you don’t go for it in this kind of a market, you never know what price people will accept. I am seeing this happen a lot where I live. Some people can’t afford to take a loss but some may have bought in the 80′s or 90′s and will still profit from your offer that is 30k less than asking price.

I can say from experience that the relators will try to shame you into making a higher offer, but I never let that bother me.

]]> By: ekrabshttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-6080 ekrabs Tue, 22 Jul 2008 17:12:43 +0000 http://www.moneycrashers.com/?p=602#comment-6080 Agreed, there's nothing wrong with it. They shouldn't take it personally. It's just business. In fact, if they know better, they would've listed it higher than the amount they really want, fully expecting people to counter-offer with a lower bid. Even for houses, haggling is very common. Agreed, there’s nothing wrong with it.

They shouldn’t take it personally. It’s just business. In fact, if they know better, they would’ve listed it higher than the amount they really want, fully expecting people to counter-offer with a lower bid.

Even for houses, haggling is very common.

]]> By: Mikehttp://www.moneycrashers.com/is-it-wrong-to-make-a-low-ball-offer/#comment-6078 Mike Tue, 22 Jul 2008 14:27:43 +0000 http://www.moneycrashers.com/?p=602#comment-6078 There is nothing wrong with making a fair, reasonable offer that is well below the asking price. I wouldn't present something that is obviously a lowball because you might offend the seller or make them think you're trying to take advantage of their bad situation and they won't deal with you (it's happened); just offer close to what you feel the property is actually worth and go from there. There's no shame in that. There is nothing wrong with making a fair, reasonable offer that is well below the asking price. I wouldn’t present something that is obviously a lowball because you might offend the seller or make them think you’re trying to take advantage of their bad situation and they won’t deal with you (it’s happened); just offer close to what you feel the property is actually worth and go from there. There’s no shame in that.

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