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Julie Smiley, Home Buyer in Dodson, LA

I found a house and there asking 112,000.00 for it what would be a non insulting bid?

Asked by Julie Smiley, Dodson, LA Thu May 15, 2008

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3
I wouldn't go quite as far as John, the Bruce, however I also wouldn't worry about whether I'm offending the seller.

If you're interested in the property, feel free to offer as low a bid as you believe, the seller might be willing to accept. Do your homework. Know what the real current-day value of the home is, before making your offer. Know what other very recent sales have sold for and that should help you formulate an offer.

If they're insulted, you can always increase your offer, if you determine the value is there. But you might get lucky, and they may be motivated enough to accept a low offer.

Good luck.
3 votes Thank Flag Link Fri May 16, 2008
Alan May, Real Estate Pro in Evanston, IL
MVP'08
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Elvis and John are absolutely right. Don't worry about whether your offer insults the seller. That's their problem, not yours. All you can assume is that if you offer full price, it won't be an "insulting" bid. For some sellers, even a penny less is "insulting." Other sellers, more motivated, would welcome offers 10%, 20%, or even more below their asking price. The point is: You're not a mindreader. That's fine. Just don't try to be one. Just know what your strategy is (you love the house and don't want to lose it...or you just want to be sure you're not overpaying for the house...or you want a really good deal...and so on), and then make an offer accordingly.

Hope that helps.
1 vote Thank Flag Link Fri May 16, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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Julie - never worry about offending sellers. In this market, if you're not offending them, then you're offering too much!

Good luck,
-John
1 vote Thank Flag Link Thu May 15, 2008
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