Want to make an offer for 15K less than the listing price but need seller's assist too, how likely is this to be accepted?

Asked by Renter, Philadelphia, PA Wed May 4, 2011

Found the perfect house for me. Within the last 4 month's the price has been reduced 4 times .. 5,000 each time. This tells me that the seller may be motivated, correct? So, how unreasonable is it to ask for 15K off the list price and seller's assist?

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Joseph Mulli…, Agent, Pennsauken, NJ
Thu May 5, 2011
It all depends on how it is presented to the seller and how you arrived at your price. If you are basing it on a fair and reasonable offer depending on the market and explain it in that manner you will have a better chance of making sure the seller is understanding to your decision process.
The best scenario for seller assist is to at least offer the appraised value of the home (since that is all the bank will lend you towards the purchase) Less the money needed for your closing costs. If you feel you want to offer even less try to compile a list of necessary repairs with estimated costs.
By showing the seller a valid reason to your offer it is less likely taken as an insult and more likely negotiated with a win-win mindset.
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Bill Eckler, Agent, Venice, FL
Wed May 4, 2011
Renter,

You'll never know unless you ask......agreed, the seller is showing signs of high motivation to find a buyer with these recent price decreases.

The sad reality of negotiating is the more you ask of the seller, the less chance you have of being successful. An additional price decrease may be possible but they may view $15,000 as excessive especially if you are going to ask for seller financing.

But, you never know.....what do you stand to lose by asking?

Good luck,

Bill
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