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Making an offer on a house

Answered 4 years ago

How much do you offer? 10% than asking? 20%? Eg if it was 300k would up offer 250?or would that be too low?


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ANSWER
4 years ago
I would love ball them. Of course they're going to say no but you have to start somewhere

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REPLY
4 years ago
*low ball

REPLY
4 years ago
Haha love ball sounds kinky 😂

REPLY
4 years ago
Low balling just wastes both your times.

REPLY
4 years ago
Hahaha. Love Ball. It does sound a little kinky doesn't it?

REPLY
4 years ago
Why does it waste everyone's time? If they're a motivated seller surely it'll help get the ball rolling

REPLY
4 years ago
I listed my house at 550,000 and I was getting offers of $300,000. Any offer has to be presented so I’d have to meet up with the estate agent, officially decline the offer and sign the forms. Wasted so much of my time and the buyers also for offering such a lower price than my listed price. It was incredibly annoying.

ANSWER
4 years ago
You need to do your research, how long has the house been for sale, prices of other properties in the area. Some houses are ridiculously over priced, so if that's the case then make a low offer.

ANSWER
4 years ago
You don't want to offer too low and lose the sale. If it were 300,000 I would offer around 280-285k.

ANSWER
4 years ago
When we put an offer in on both the houses we've owned, we gave them our offer and the reasons why we were offering that amount (eg what similar houses had sold for and extras they had or missing etc). First house got it for first offer amount, second house they made a counter offer which we were happy with so accepted ($10k more than our offer, but less than what we were willing to pay anyway). Particularly the second house we wanted to give a fair offer straight up as we viewed the house before the first open house and wanted the contact signed before the open house occurred.

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REPLY
4 years ago
Oh and the first house we were the tenants and they offered it to us first but don't think there was a price given so we had to come up with it, second house was going to auction, so also didn't have a listed price lol.

ANSWER
4 years ago
Offering $50,000 less on a $300,000 is too low. Also depends if it’s a bargain or not. If it’s a great price, offer what they’re asking or you’ll lose it to someone else. If it’s listed at 500, 000 but you know similar houses in the same suburb are selling for $400,000 then start there and let negations begin.