Home Buying in 04401>Question Details

Ashley Pomel…, Home Buyer in Corinth, ME

Is 140k offer on a 175k house considered a "lowball" offer?

Asked by Ashley Pomelow, Corinth, ME Tue Mar 12, 2013

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9
Yes, it probably is. A Buyer Agent will be able to assess that situation exactly. If you do not have one, you should get one
0 votes Thank Flag Link Wed May 14, 2014
Depends ,,,,the house may be overpriced for the current market. There are a lot of factors to take into consideration. The offer may open up a window of conversation between sellers & buyers to negotiate something more suitable.
0 votes Thank Flag Link Sun Apr 27, 2014
Good evening, Ashley,
Thank you for your question!Offers are all over the place today, and the success of such an offer will depend on alot of factors about which a buyer agent can advise you. Factors to consider will be the motivation of the seller,motivation of the buyer,length of time and activity history on the market., among others. All of these factors are in addition to the actual current market value. Another factor in play: the current market activity pace in the Greater Bangor area has accelerated signficantly in the last year,and is also increasing buyer competition for properties, which is impacting how sellers are viewing and considering offers today!
Please let me know how I may be of assistance to you in your search?
I'm easy to reach, and always happy to help!
With my best,
Jan Currier,Prudential Northeast Properties,EMAIL;usafreejan@aol.com /CELL;944-6430/Proudly Serving Maine Real Estate Clients for over 25 Years
0 votes Thank Flag Link Fri Jul 5, 2013
We have been in a down market for so long, where buyers could get away with low offers as a starting point - even though Sellers found the offers insulting, they still engaged in negotiations. It is time for everyone to re-set their thinking. In Southern Mid-Coast Maine, we are in a transitioning market - most area towns are moving from being Buyers' Markets and nearing equilibrium; a couple towns are already Sellers' Markets. Even if that particular home you are looking at is over priced, an offer at $140K will not be joyfully received. If you only want to pay $140,000, you will have better luck actually getting a home if you shop in that price range.
0 votes Thank Flag Link Wed Mar 13, 2013
Of the 22 properties sold in the last 12 months in Corinth, Maine, the average sale price was 96% of list price. So $140K would be considered a lowball offer on a $175K list price, provided that the home is reasonably priced.
0 votes Thank Flag Link Tue Mar 12, 2013
In today's market at least in California (my nick of the woods) offers below list are simply not being accepted. In fact some properties are even going for above list in some cases.

If you are a CASH buyer , you may be able to offer a few thousand below list and get lucky. Offering 35k below list is a real risk.

Best of luck to you!!

Kawain Payne, Realtor
0 votes Thank Flag Link Tue Mar 12, 2013
If you are talking about the LISTING of $175; it might be, it might not.
If you are talking about the Market Value of the House, YES! That would be a 20% discount!!!
Some LISTING prices are not realistic; you cannot assume that it is reasonable or logical.
Have your Buyer's Agent do a CMA to determine the Market Value.
0 votes Thank Flag Link Tue Mar 12, 2013
On today market, consider as sellers market, because of lack of inventory, I can tell IT IS REALLY LOWBALL OFFER.
0 votes Thank Flag Link Tue Mar 12, 2013
Not necessarily, depends on a lot of different factors such as; condition, age, etc. If you'd like send me the detail's & I would be happy to assist you.

ryanrich@masiello.com/rrich0008@yahoo.com

If your already working with a buyer's agent, this would be a good question for him/her.
0 votes Thank Flag Link Tue Mar 12, 2013
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