Belle,

I am an investor and Realtor that specializes in buying distressed properties at a discount. While it may seem outrageous, offers that far below asking price ARE accepted sometime if the seller is motivated enough. If the developer is having financial difficulty, you do need to be careful. Depending on the creditors (who lent the developer money) are and what the particular situation is (possibly bankruptcy) it may be difficult to get all the parties with a vested interest to agree to the deal. Feel free to give me a call at 703-791-9228 is you would like to discuss in more detail.

--Marc

I am wondering the price point of this property? In the lower price ranges, we are seeing crazy amounts of activity. Every contract I have negotiated in the past week has been in multiple offer situations, which includes contracts in the Bristow/Manassas/Haymarket/Gainesville areas. SO, that tells me that the property is definately overpriced. It could be a distress situation.

Do you have an agent? Your agent needs to have conversations with whomever has it listed to give you as much inside info as possible...and you should move forward and write a contract. Don't attempt to negotiate before you have shown you are willing to put your money where your mouth is.

But bear in mind that if the builder could accept that amount, it would probably be listed at that amount. You must support your case with comps, and express flexibility where you can offer it - including being willing to take the lead and negotiate with the bank if a short sale is necessary. This should all be coming from your agent, whom I assume is experienced enough to do this.

If your offer can not be supported with comps they you are just throwing yourself out there and hoping. Theres nothing wrong with that, but be prepared that it may not go through.

I wish you luck! And, if I can help, please reach out to me.

To show you are serious, it would probably be a good idea to write a contract, and have a lender letter available and an earnest money deposit...mainly the answer to that question, is ...what would make you take an offer less than you were selling something for...you have to make them an offer they can't refuse...it could be a quick closing, cash, or something else.......although for most of us the bottom line is important....possibly this builder needs something else....got any question, give me a jingle...