Home Buying in 19128>Question Details

Shaun Beaty, Home Buyer in Philadelphia, PA

Would making an offer 20,000-30,000 below the asking price be considered an insult. and if so how much off

Asked by Shaun Beaty, Philadelphia, PA Fri Mar 6, 2009

the asking price is acceptable?

Help the community by answering this question:


There are people who offer 100k below list price. It depends on whta they are asking for it. I sold a house listed at $460k for $400k.
When you make an offer, it is a good idea to have your agent write a note saying how you came up with the price. When I am a buyer's agent , I write saying my clients are qualified and love the house but they want to offer x because if they went higher they may buy another property or I explain the comps that support the low price. You need a buyers agent who will present your offer.But if you offer too low sometimes the seller may not counter the offer if they are not motivated. In this market I am sure they will consider all offers.
Web Reference: http://www.gitabantwal.com
0 votes Thank Flag Link Sat Mar 7, 2009
It depends on 3 things:

1. The price point of the house
2. Where the comps tell you the house should be priced
3. Most importantly: Do you want to buy a house or just see what happens?
Web Reference: http://thephillypretzel.com
0 votes Thank Flag Link Sat Mar 7, 2009

Your question is a good one!! There have been several questions on Trulia that are very similar to yours. We wrote a blog post about it since it seemed like such an important question for buyers to get answered. I have attached a link to that blog post and we hope that you find in helpful.

0 votes Thank Flag Link Fri Mar 6, 2009
Hello Shaun,
I would always give my buyers some comps ( available, pending and sold transactions) to work with and let them decide on what offer price to make that is comfortable for them. Should they decide on a price that is $20k-$30k less, then that is their prerogative. I would always tell them that we do not know how the sellers will respond, but the good thing is there is a lot of other homes to choose from if the sellers do not respond well to their offer price. Good luck to you!

Shubee Ang
0 votes Thank Flag Link Fri Mar 6, 2009
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