Offer ONE DOLLAR! That's all it takes to make a contract, any amount of consideration. Now, if the listing agent has a sense of humor, they will counter you back at $3,687,422.50. No one will have achieved what they set out to achieve though. S/he didn't sell and you didn't buy. Low is nice, appropriate is more effective.

I'd say the worst thing a seller can do is ignore your offer. A seller who simply does not answer, within the time required by the contract, has turned you down. The fact that a home has been on the market 6-9 months does not make a seller desperate and willing to take anything. They may not actually have to sell, they just want to test the waters. They may have been way overpriced when the listing began but now are within the right range and therefore expect to get almost full price now -- the full price it's listed for now, not 6-9 moths ago.

If you care to call I can get some more details from you and give you a more exact answer. Please don't call if you've signed an "exclusive buyer agency" agreement with your agent. Shy of having done that though you can pick a new realtor you trust any time you want. When people ask questions here I'm happy to answer, but also concerned as to how they picked a realtor they don't trust enough to ask the same question and believe the REALTORS(S) answer.
Pamela Howell
REALTOR(R)
Technology Committee Chairperson
219-201-0500

Realistically, you can go as low as you want, but as Bill said you run the risk of not being taken seriously and not getting a counteroffer. Look at it this way, what would you do or say if someone offered you a obscenely low offer on something that you put your blood, sweat and tears into. Put yourself into their shoes.

A Real Estate pro will be able to guide you the whole process and legally they are required to present every offer to the seller.

Initial offers can begin anywhere, however for the most part, the sale price should be an accurate reflection of the local market trend for a similar home.

With this said, if you are a serious buyer your offer should be "real." Otherwise you run the risk of the seller not countering you offer......resulting in a wasted effort.

A real estate profession will be able to provide you with the direction you require.

Hi there,
The value of a home is basically what the qualified, serious buyer is willing to pay in "today's market." If you've found a home that interests you, one that you would seriously consider making a move on, then pull the recent comparables. Seeing what the slod properties in the area are going for, considering the time on market of the home you like, the seller's situation and motivation, what they paid and when, and an approximate mortage balance on the home all come into play here. You can't very well go in and make an offer that's considerably under the balance owed, unless it's a short sale, and expect to make a deal work. This is when it's good to have a experienced buyer's agent giving you market information and advise as to the above mentioned details. Please don't go out there making super low ball offers that the seller will find insulting and impossible to negotiate. Generally speaking, the market is down, how far down depends on the niche and area specifically. All I can say is, make an offer that seams reasonable and be prepared to negotiate.

You never know until you try.