Home Selling in Will County>Question Details

tlurk, Home Seller in Indiana

we have had 2 low ball offers on our home. 14% and 20% below list. our price is below market value already, this is frustrating.

Asked by tlurk, Indiana Sat Aug 27, 2011

our house is not a short sale or foreclosure. it is in excellent condition and has very favorable feedback. we feel we have alot of "tire kicker" buyers. if people cant afford this price range why are they wasting our time by even bidding on a house they cannot afford?

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update, yes after 2 very low ball offers we sold just 4% under list shortly after. we are set to close the middle of this month. to say the market we sold in this time was wayyyy different than any other market ever. we have owned 6 homes and do not plan on purchasing a home in the near future. this market exhausted both of us, and yes we consider ourselves very lucky to have sold in a little over 2 months and had the traffic we had. that still did not take away from the frustration that went with it.
thanx to all that posted responses!
1 vote Thank Flag Link Wed Oct 5, 2011
Turk,

Sorry for a bit of a reality check... but who says you're below market value? If the home has been on the market for a reasonable amount of time, properly marketed and shown, and you have multiple offers around the same price, it is you that are off on the market value, not the hundreds or hopefully thousands of buyers that have been exposed to your home for sale. Very common issue for sellers.
1 vote Thank Flag Link Sun Aug 28, 2011
Turk,
Market value is determined by the price a buyer is willing to pay and the price a seller is willing to accept. Your real estate agent is not a factor in that equation. If the price that buyers are willing to pay IN TODAY'S MARKET is too low to accomplish your goals, then it is probably best that you take the house off the market and wait for more buyers to come into the market and push prices back up. How long will that be? Nobody knows.
1 vote Thank Flag Link Sun Aug 28, 2011
Turk,
In today's market, 14-20% below list offers are not low ball. Buyers are frugal. Continue to negotiate with them without getting frustrated. Something good will come of it. Mind you, they should be presenting you with a prequalification or preapproval that meets your list price; otherwise you may be negotiating with someone who can't afford where the price is headed. In that case, I stop negotiating until I get an increased loan approval.
Can't sqeeze any more juice out of some turnips.
1 vote Thank Flag Link Sun Aug 28, 2011
Well I guess if he finally sold his home......Happy ending for seller. It's probably time he may even want to put a new one on the market.
0 votes Thank Flag Link Tue Apr 30, 2013
tlurk - some people like to dredge up old questions - no idea why, but they do.....that's why this OLD question is getting new responses......

Then - once it is resurrected - others jump in and don't bother to look at the date it was first posted -

voila - you have an active forum again!

Glad you sold your home........all the best!
0 votes Thank Flag Link Tue Apr 30, 2013
we did sell our house in 2 months way back in 2011 why all these answers are coming in now are beyond me!! thanx for the responses, whenever they were really sent!!
0 votes Thank Flag Link Tue Apr 30, 2013
That's the territory. There are people who only look. If you're getting traffic and no offers, that's a sign you should lower your price.

If the market is soft, the offers don't just flow in.

There are buyers that simply don't rush - ever.

Glad you were successful.
0 votes Thank Flag Link Tue Apr 30, 2013
old question - person sold his house 2 years ago!!)
Flag Tue Apr 30, 2013
let's hope" tlurk in Indiana" sold his house by now - as this question was posted almost 2 years ago!
0 votes Thank Flag Link Tue Apr 30, 2013
That's perfect for someone like me, as I'm a first time home buyer. I plan to aim about 15-20% off on the asking price. That's pretty standard nowadays.
0 votes Thank Flag Link Tue Apr 30, 2013
Congrats! I hope you have a smooth ride until closing!

Christina Morabito
Realtor
Florida Future Realty, Inc.
239-849-8500

“The opinions expressed herein are those of the author and/or commenters and may or may not represent the views of Florida Future Realty, Inc."
0 votes Thank Flag Link Wed Oct 5, 2011
Simple...the buyers today think that they have to get a "deal" or they are stupid. Their motivation is the price and the benefit is your home. The Real Estate agent should be able to show you what similar homes have sold for and what percentage they have gotten off their asking price.

take the money and run.
0 votes Thank Flag Link Wed Oct 5, 2011
Dear Mr. Seller,
The fact that you have 2 offers on the table is an excellent situation in this market. I don't want you to feel "frustrated" but to take this as a business advantage. If you look you situation the right way you have 2 potential interested buyers to work with. Both wrote reasonable offers and this will give you the opportunity to negotiate different aspects of the offers. The price is just one that can be adjusted because you can counter offer both. Within this counter, you can address other issues, such as home inspection repairs, good faith deposit, escalation clauses, right of first refusal or even the ability to keep marketing the property. Please feel free to email me to discuss further at thelozalawfirm@gmail.com
0 votes Thank Flag Link Wed Oct 5, 2011
I agree, I see cash offers all the time from people that think they can steal a home from a desperate seller. I don't know about other parts of the country but here in Seattle, even short sales sell for only 3% less than market value.
0 votes Thank Flag Link Wed Oct 5, 2011
Most Buyers Now are Investors who have CASH and its their JOB to beat you up. When credit is eased up in the near future out of necessity (mortage co.s are in the business of lending money) you will see NORMAL buyers who are looking for that perfect .
0 votes Thank Flag Link Wed Oct 5, 2011
Too many people think that they can steal properties in this environment...here in Seattle the average market time in some neighborhoods is only 45 days and people are still trying to get that steal. I agree prequalified buyers may help, but I am afraid that in this environment, too many people think they can get a steal.
0 votes Thank Flag Link Wed Oct 5, 2011
When will sellers realize that the market is the market?

Listings that receive "favorable feedback" while continuing to sit on the market tend to be overpriced.

Properly priced properties sell--period.
0 votes Thank Flag Link Tue Oct 4, 2011
When an offer comes your way, even if it a crummy offer, you need to work the offer up as high as you can.
You might be able to get it high enough to where it is acceptable to you.
0 votes Thank Flag Link Tue Oct 4, 2011
Hi Turk, Just wanted an update on if your house closed or not. If that buyer was actually quilified that put in the offer 4% under list. Let us know
0 votes Thank Flag Link Tue Oct 4, 2011
I agree with the answer - Showings to pre-qualified buyers only in addition to education. Many buyers in this market think all sellers are short sales or foreclosures mainly based on the media hype of the last 2 years. In our market inventory is low and prices are up and the only way to get a buyer to understand this is with firm data provided to them in order to set the expectations before the first showing. The agents submitting these offers need to educate their buyers and if your pricing is in line with the market they need to understand that you are expecting a reasonable and fair offer. Good Luck
0 votes Thank Flag Link Tue Oct 4, 2011
to don tepper, thank u for ur observations and input... u are one of the few that i believe "get it'. to the other couple of agents that answered after my last post.. .did u read my post on sept. 5th?? we got a offer on our house so the low baller thing is now not relevant. why are we moving? to be closer to our grandkids, plain and simple. life is too short.
0 votes Thank Flag Link Fri Sep 9, 2011
Nobody ever wants to leave any money on the table - including YOU. I would work with those offers. Try to regenerate them via your agent. NO ONE should be looking at your home unless they have been prequalified for a mortgage. Unless your agent or the buyer agent is inexperienced , this should be a given. Ask your agent to include the following in your MLS lisitng - "Showings for pre-qualified buyers only."
0 votes Thank Flag Link Thu Sep 8, 2011
Hi tlurk,
Why are you moving? Interesting thread, keep us posted. Good Luck
0 votes Thank Flag Link Thu Sep 8, 2011
tlurk: Thanks for the update. Somehow, I missed this entire thread. My apologies.

Just a couple of quick observations: Apparently (based on the number of people viewing the property and on the good offer you finally got) your home was competitively priced. What some of the comments may have been suggesting (not putting words in their mouths) is that lots of sellers are not realistic about their home values. I saw in your comments that you had done research supporting your price. Honestly, lots of sellers don't. They remember what a house down the block sold for a year, or two years, or three years ago. Or they think that the poorly-done basement rec room (that smells like mold, the peel-and-stick tiles aren't sticking, etc.) has added $30,000 to their homes, etc. Congratulations to you for having done the appropriate research.

As for lowballers: Yes, they exist. But at least they're offers. I do agree with the others that you should have countered--and probably more than a token $1,000 under your initial list price. Some lowballers don't really expect to get such a deep discount, but they want to see if there's any flexibility there. Kind of testing the waters. Do they realize that they'll "insult" some sellers? Yes, but they don't know which ones. So they're willing to make lots of offers. I'll acknowledge: In your case, it doesn't appear that you were harmed at all by your token counters. But others in situations similar to yours might be quite happy with a final offer--after a couple rounds of negotiating--maybe 7%-8% below the listing price.

I agree with you 100% about the entitlement mentality of some of the buyers in the market today. On top of that, you say that most of the lookers were first-time home buyers. That just adds to the difficulty. While Realtors do try to educate buyers, some are just convinced about what they want, what they should be able to buy, and what they won't settle for. (The whole issue of stainless steel/graine countertops comes to mind. Imagine basing your entire purchasing decision on whether a property has those, or perfectly acceptable white appliances and laminate countertops.)

Anyhow: Congratulations. And thanks for posting the follow-ups.
0 votes Thank Flag Link Thu Sep 8, 2011
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Hi, it depends on what the current sold market data is telling them, many savvy buyers make offers based on that. If your agent has doe the research for you and you all know the values are where you priced your home then either wait for a better offer or negotiate with these people. Many buyers like to start low to see how flexible the seller is. In this market many low ball offers have eventually been negotiated into accepted offers.

Chris
0 votes Thank Flag Link Thu Sep 8, 2011
update.. we sold our house for 3.75% under list, not 7% which is the going rate in the area, and not 14 or 20% under as the initial low ballers threw at us. we feel that we received a fair offer (after only 2 rounds of negotiations) and they got a fair house at fair market value. we never went below our initial list price during our listing time, because our house was priced just a bit below comps. to sellers out there, stick to ur guns, price ur home where it should be and it will sell. we had 25+ showings in 2 months with 2 low ball offers and then the offer we accepted. were we frustrated? u betcha. but our realtor and us did our homework and knew our house would sell without lowering the price. buyers, u need to be educated from the realtors u are working with and educate urself by looking on the internet and pay heed to the comps, comps dont lie. coming in low balling "normal" (not desperate) sellers doesnt start the negotiations in the right way, it pisses off the sellers (us) and we dont even want to deal with you. is there a chance that one of those buyers might take a low ball offer, sure, but most likely not, not even in this market. u want to go cheap, go for the foreclosures or short sales. and realtors, u say that u have to present that low ball offer.. NO U DONT! u can say u wont do it and tell them to move on to someone who will, but u dont because u dont want to piss off a potential sale, i get it.
but if they are chronic low ballers (as one of ours was) u are doing ur reputation no favors, with ur fellow realtors and not with sellers. most of the buyers that came to our house were first time buyers and they need to know the market thew wish to buy in. we see this age group (20 somethings) as the "entitlement age group" they want what their parents worked their whole lives to get the granite, the 4 bedrooms, 2.5 baths, etc. it doesnt work that way, not normally! so buy what u can afford.

remember, 20 something buyer, one day u will be on the other side of the house selling/buying transaction, really think about when u make that low ball offer that that could be u 5-10 years from now, how would u like it? i doubt it. again, if the house warrants that offer, go for it, i am all about a deal, but a good house, non desperate sellers deserve some respect, u wont be taken seriously.

anyway, we are in a contract and hope to move on with our lives in october. we also hope that our buyers will enjoy this home as much as we did.
0 votes Thank Flag Link Mon Sep 5, 2011
just a update... apparently the 20% below list low ballers are "chronic" low ballers. the agent they were working with has parted ways with them as they have now lowballed 2 homes under his watch and he does not want to ruin his reputation. smart realtor. i believe if more realtors follow this route, more low ballers will cease to insult normal sellers, not foreclosures or short sales. and yes, i hear u all loud and clear, "if u dont ask, u dont know" - i think the chances of a lowballer lucking into that desperate of a seller is very low, whereas a buyer who comes in with a reasonable, negotiable bid, will end up meeting at a good price with the seller and everybody will end up happy campers.
0 votes Thank Flag Link Mon Aug 29, 2011
gene, u hit the ball on the head. that is exactly why we are doing the move now. we are in our mid 50's - our youngest son was killed in a freak water park accident 6 years ago (i cannot believe he has been gone 6 years) and our lives have never and will never be the same. we made this decision to move on the premise that life IS too short, u never know if u will have "later". we are lucky to have a small mortgage so we have more wiggle room than probably 75% of the sellers out there, and that is why we could price our house accordingly. thank u for ur insight as it just solidifies that what we are planning on doing is going to be wonderful. wish us luck, we have 2 showings tomorrow. oh, and yes, when we do sell, for whatever the price we agree upon, we will lose money as we bought this property in 2007, not at the high end, but not low like when the bubble burst in 2009 and we are ok with that. we accept that loss as what it is and are moving forward from there. take care gene and thank u again for ur responses.
0 votes Thank Flag Link Sun Aug 28, 2011
turk, i totally agree on your last comment. In any business, including the housing market, documentation, benchmarks and baselines are critical information. Why would the sellers realtor put together a package for the seller to review that would include comps, and listed selling prices for houses in the area. This is done to show what the market represents. If your area shows a consistent 6-7% offer below listed price this is what i would consider a reasonable offer (plus or minus 1-2%). It is in my opinion that a offer 14-15% outside this benchmark would be a unrealistic, insulting and inconsiderate offer. Any realtor for the buyer who works with buyers such as the low ballers you mentioned are ruining their own reputation. I have been a manager for various businesses over the years and insulting the customer would be the last thing I would want to do. The seller IS the customer, the seller pays the commission, therefore the seller pays the realtors salary.
0 votes Thank Flag Link Sun Aug 28, 2011
again, thank u to all who have taken the time to respond to my question. to clairfy our market here. i went in and did my baseline analysis of houses that sold in the last 6 months in our area. as in any business, u throw out the lowest and highest amount. that being said, the houses that sold in our area have sold on average for 6% under list, NOT 20%. even if u take in account the highest and lowest list to sale prices, that puts the average sale price at 7.3% again, NOT 20%. so we have as sellers a legitimate complaint on being low balled on our house.
like everything we buy, houses, cars, retail, entertainment, all of these things are commodities. i dont think there are too many places that u can walk into and say, i want to pay 20% less then its marked and not be shown the door.
we will take ur comment about coming down a bit more than $1000 on a low ball offer into consideration anthony, but again, we feel documentation is needed to back up such a low ball offer. without documentation where does any bargaining begin??? if we are suppose to throw documentation out, then i guess buyers should start with $1 and see where that goes?
also, there are plenty of considerate buyers out there who will come in with a reasonable starting bid on a offer for purchasing a home. coming in at 20% below list in any market is not considerate and i would think a realtor would really really try to talk them out of it, again, with documentation.
thanks again.
0 votes Thank Flag Link Sun Aug 28, 2011
thank u gene, we are not desperate sellers as our mortgage is very low and our payment is the same. we would like to move closer to our grandchildren and if that time is not now, then so be it. we too have watched our home prices up here fall a bit from even a year ago, but not 20%. houses that have sold and closed in the past 3-6 months average 7% below list which is not great but not like vegas or florida. we too feel that this is the worse we have seen in our lifetime, we have bought and sold 6 houses in our marriage and have never encountered a market like this (we bought our first home when intererst rates were 11% and then climbed up to 17% in the early 1980's) - lucky for us we are in a decent position financially to ride out this storm if need be.
thank u for ur insight!! good luck to all of us!
0 votes Thank Flag Link Sun Aug 28, 2011
I did address documentation: "Comps mean nothing without a willing buyer. Every agent here has had properties they thought were priced well based on the comps that hadn't sold in the time they expected."

And you're missing the point. Like Barb Dearing said below: "Market value is determined by the price a buyer is willing to pay and the price a seller is willing to accept. Your real estate agent is not a factor in that equation."

In other words, forget the documentation. There is no law that says anybody has to base their offer off "documentation". What are buyers willing to pay? And what are you willing to sell the property for? If those numbers meet somewhere, there's your market value. That's it.

Real estate agents do the best they can to represent the client with whom they are working. We don't collude on prices or methods. there are many different ways to do things and different ways to value properties.

No, I'm not saying that you shouldn't counter, but do better than $1000. That's not the counter the buyer is looking for. The advice you received about just countering a little lower than list might be good in certain areas of the country, but in Will County it's bad advice. Counter 5K down, and see where the buyer's next counter ends up.
0 votes Thank Flag Link Sun Aug 28, 2011
anthony, first off, we countered our offer based on information i gathered from many many websites and comments regarding "countering to a low ball offer" - we didnt even want to counter but knew to keep the lines of communication open. ur fellow realtors nationwide say to counter just below asking to show u are willing to negotiate, now u are saying not to do that??? yes, there are short sales/ foreclosures everywhere, our list price recognizes that,but we arent giving the house away, if a buyer wants a deal then they should go there to get it. i am all for a good "sale" or deal, but u cant tell me that starting 20% under list is a good way to start negotiations? as buyers we would never do that, unless the house was a pile of crap that needed a lot of work, that isnt the case here.
in your comments you never once addressed my comment about "documentation" from the buyers showing how they got that price?? i think that is one major point that needs to be addressed.. how can we even come to terms without documentation? we are willing to look at how they got to their numbers and go from there, without that knowledge we are left with assumptions and we all know what that means. we have read and listened to the advice and comments given here, but i feel its also time for u as realtors to listen to us or at least give us the information we need to make the decisions we need to make. u dont know what u dont know. thank u.
0 votes Thank Flag Link Sun Aug 28, 2011
Turk,

You're not selling cars. You're trying to sell your home in a market where the values have been going down for the last 5 years. You've received some great insight here, yet you keep rejecting it. Why are you even asking for advice if you're not willing to accept it? If your home was priced below market value, it would have sold already. The fact that it hasn't shows you're above market value. Comps mean nothing without a willing buyer. Every agent here has had properties they thought were priced well based on the comps that hadn't sold in the time they expected.

I'll tell you why the buyers aren't coming back after your counter. They think the same think you're saying about them: You're not serious. Countering with $1000 below list price is pointless; you might as well just counter at list price. The buyers are scoffing at your counters. You should be countering $5000-$10000 below list price to show you're negotiating. Otherwise, you're just wasting your time.

You mentioned there are foreclosures in the neighborhood. Step back and put yourself in the buyer's shoes. If you were a buyer looking in your area, would you buy your house? Or would you choose something much cheaper like a foreclosure? Don't get emotional or insulted. This is a business transaction in a rough market. You're going to get disappointing offers.

And the fact that you're getting offers is a good thing. But you have to work it the offer. Expect to settle at least 5-10% below list price. If you do better, that's great, but don't count on it because you may end up disappointed.
0 votes Thank Flag Link Sun Aug 28, 2011
oh, and just one more thing, in neither of the two low ball offers were we offered documentation to justify either offer. without knowledge of how they came to these offers can we even entertain such offers. again, we never heard back from the first offer and at this point are not holding our breathes on the 2nd. in our opinion this is like walking into a car dealer and wanting to see a $50,000 car but only want to pay $15,000... guess what, your not going to get that car!! and again, let me say this, a realtor is totally part of the equation for buying and selling a house. why would we bother with one if they were not?? they are suppose to educate and assist in the process.
0 votes Thank Flag Link Sun Aug 28, 2011
to put this into perspective.... the lastest low ball offer was $20,000 less than the short sale on our block. altho i appreciate ur "reality check", i feel the reality check is with the buyers realtor. how can u justify going into a contract knowing that a house similar to the one u are bidding on went for $20,000 MORE on a short sale?? sorry, but that seems stupid, just plain stupid. and barb, u are absolutely right, if these are the kind of offers we are going to get, than we will pull off the market, we are not desperate, we dont have to sell. we are doing and have done our part to ready the house for sale and have kept it up beyond clean and have shown it with every call we have received.
so we will see if this latest offer goes further, or if the buyers are just throwing mud and seeing where it will stick.
0 votes Thank Flag Link Sun Aug 28, 2011
we really appreciate all of ur comments. the reason we are getting the showings we are getting vs. the competition is that we are already below comps. we are totally aware that houses are not going for list price and in our case, we can afford to come down a bit, but we are not going to give our house away. i think that when a buyer wants to throw out a very lowball offer, the conversation from the realtor should be this: "mr/ms buyer, i am here to assist and educate u in the house buying process. i have compiled recent comps for the house u want to put a bid on, here they are. now u are telling me that u want to go in with a offer that 99% of the time will anger the sellers and get us no where from the start. if i was not here to "bear the brunt" of making a low ball offer like this, would u have the good conscious to present this offer to the sellers yourself? if the answer is yes, then i will bite the bullet and do this, if u couldnt look the sellers in the eye and offer them this amount for their home, then perhaps u should reevaluate ur offer." its time for realtors to grow a set and not let the buyers run the show. we are getting (95%) mostly first time buyers, who probably arent educated and watching too much tv....its up to the real estate community to assist and educate them. we have owned 5 other houses in various selling markets, none as bad as this, and we have never encountered this type of buyer!! my hubby is at the point to take the house off the market !!. should we be thankful we are getting showings and offers, you betcha, but on the other end of the stick is the plain and simple fact that our house shows well, is in very good condition and is priced more than fairly in todays market. thank u again for ur comments.
0 votes Thank Flag Link Sun Aug 28, 2011
I can understand your frustration as a seller. Every seller believes their house is worth a certain price but a buyer is going to pay what they think a house is worth to them also. I have worked wit a lot of buyers this year and as a realtor, it can be frustrating working with buyers, but they are approved up to a certain price but it does not mean they are willing to spend their top range.
In todays market, You should be very happy to be getting showings as well as offers. You should also understand that there are an abundance of properties for sale in this market. EVERYONE is hoping to sell. Buyers are few and any homeowner would embrace the buyer they get. You should be willing to negotiate. As my professional experience with working with buyers in this market, A buyer has a huge amount of invetory to choose from so if you dont negotiate with them , they will move on to the next property.
I would suggest talking with your realtor and make sure your Property is priced right. I would hate to see you turn down offers and 6-12 months later, you reduce your price to the price you could have sold at 6-12 months ago.

SINCERELY,
NICHOLE LATHUS
MCCOLLY REAL ESTATE
0 votes Thank Flag Link Sat Aug 27, 2011
we did exactly that with this latest low ball offer, we countered $1000 under our list and told them that we would like to see a more serious counteroffer. thanx
0 votes Thank Flag Link Sat Aug 27, 2011
we have countered in both instances, going $1000 under list to show that we will work with them on a good price. both times we asked for comps showing how they got to these prices, first offer didnt do their do diligence with comps. 2nd offer, we were told the agent went over the comps and told the buyers that they were too low but had to do the offer anyway. again, if these people want a "deal" there are foreclosures and short sales to reckon with. all they have done is made us (the sellers) mad and not even want to deal with them. we have not received a counteroffer back as of yet, perhaps we wont. they say u shouldnt get emotional about house sales... that is so off the mark.. everything about house selling and buying is emotional and buyers need to realize that not everyone on the market is in trouble, upside down etc. and make the adjustments in their offers reflecting that knowledge.
0 votes Thank Flag Link Sat Aug 27, 2011
Probing offers can be annoying for sellers. I like this response to a buyer who is lowballing:

"W did see your offer. We would, however, like to see your best offer before responding."

This response is not a rejection. If they weren't serious, then that might be the end of it. Inviting another offer allows the buyer to reconsider.

Best of luck, Turk.

SuZ
PML
of Longmont, CO
0 votes Thank Flag Link Sat Aug 27, 2011
My profession requires a certain expertise in some areas; LISTING price is one of my specialties:

Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.

Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called “chasing the curve”) and Buyers will be asking the question; “What’s wrong with that house?” and “Why has it been on the Market so long?”

Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; “Aren’t you obligated to sell at this price if someone offers it?” The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)

Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.

Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. If you look at enough CMA’s, you will see the trends.

Evidently, the two "low-ballers" have read my info about LISTING PRICE.

Maybe the third buyer will.

Good luck and may God bless
0 votes Thank Flag Link Sat Aug 27, 2011
Be happy you're getting offers at all. Some sellers would love to get just about any offer so they have at least something to negotiate.
0 votes Thank Flag Link Sat Aug 27, 2011
Trust me, realtors are as frustrated as you. Have you countered the offers? I find it is not unusual for today's buyers to make these types of ridiculous offers as a matter of course whether or not their realtor recommends it. You could even counter with full asking price so they get the message and then ask them to provide you with comps that justify their offer. I am not so sure they are 'tire kickers'. I am afraid it is just the way it is these days.
0 votes Thank Flag Link Sat Aug 27, 2011
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