Home Buying in Staten Island>Question Details

lowballoffer…, Home Buyer in 10309

When a broker lowers the price every two weeks Does it mean that they will consider any offer?

Asked by lowballoffersgettheprize, 10309 Sun Aug 25, 2013

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Look at the comps and determine what is fair market value and present those facts when making your offer.

As your tagline is "low ball offers get the prize" it appears that making low ball offers is your standard operating procedure. Realize that an unreasonable offer (way below market value) may simply get you a rejection and no second chance.
0 votes Thank Flag Link Mon Aug 26, 2013
If you feel the new lowered price is at fair market value and it is the house you want then don't waste time in submitting an offer. If you keep waiting until they lower the price again you will lose it because someone else will see the value.
0 votes Thank Flag Link Mon Aug 26, 2013
Jill is correct. Listing Agent's make incremental price changes so that the other Agents out there with buyers are reminded of the property when it hits the "Hot Sheet."

Deborah is also correct you'll never know what a Seller is willing to accept unless you make an offer.

Best regards,
Will Knoop

For an Instant Mortgage Rate Quote visit http://www.NYSmortgagerates.com
0 votes Thank Flag Link Mon Aug 26, 2013
Don't worry about asking prices and don't look at timing and sequence of price changes. If you are interested in the property, make an offer!

The law dictates that ALL offers be presented. Almost everything in life is negotiable.
0 votes Thank Flag Link Sun Aug 25, 2013
Sometimes the price is lowered by tiny increments so it hits the hot sheet every few days and refreshed peoples minds that this house is on the market.
0 votes Thank Flag Link Sun Aug 25, 2013
Any offer? Probably not. If this a property you want, I'd have my agent call to get the scoop - then write. As others have said, you won't know if you don't ask.
0 votes Thank Flag Link Sun Aug 25, 2013
Only the seller knows what he/she will consider, therefore make your offer and go from there.
0 votes Thank Flag Link Sun Aug 25, 2013
Was probably overpriced to begin with. You'll never know unless you make an offer....
0 votes Thank Flag Link Sun Aug 25, 2013
Maybe. Maybe not.

Along the same lines as the previous answer, it's likely that the house was substantially overpriced when it came on the market. Example: The house really is worth $195,000. It came on the market at $230,000 and has had a price reduction of $5,000 every two weeks. It's now priced at $215,000. It's still overpriced. You make what you think is a low-ball offer at $200,000. It's accepted. You think you got a real bargain. Actually, you've overpaid. And it might not appraise for that much.

So it's very important that you know what the house really is worth before making the offer. Then offer something equal to or lower than its real value.

Whether the sellers will consider any offer is impossible to say. It really depends on their degree of motivation. But the only way to know for sure is to make the offer. If it's countered, that's an excellent sign. If it's accepted, ironically, you might have overpaid.

Ask your Realtor for more information.

Hope that helps.
0 votes Thank Flag Link Sun Aug 25, 2013
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Make an offer & find out? Probably broker wanted the listing so bad that they didn't care what price they listed at & now they have to adjust for the market or they just don't know how to sell a house.
0 votes Thank Flag Link Sun Aug 25, 2013
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