Property Q&A in Los Angeles>Question Details

Denice, Other/Just Looking in Los Angeles, CA

Good Morning, Is there any way this house is going to be reduced or can a lower offer be made?

Asked by Denice, Los Angeles, CA Wed Mar 11, 2009

im wondering since ive seen this house and noticed that it will need work done and parking is not as great.

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This property was foreclosed on by the lender on 11/27/2007 and was listed as a bank owned sale on 12/12/2007 so it has been sitting on the market for a long time. The original listing price was $399,900; lowered to $299,000 on 5/6/08; to $269,900 on 7/17/08; to $235,900 on 9/30/08; and now to $189,900 on 1/21/09. Whether it will be reduced further is anybody's guess. The fact that it has not sold for over a month and a half at the current price indicates room for negotiations. On the other hand you could have an adamant seller that may not be accepting offers below asking.

My advice is to put in an offer on what you want to pay. You would also need to know market comps to justify your offer.

Bob Khalsa
Broker Owner
United America Realty
0 votes Thank Flag Link Wed Mar 11, 2009
Hi Denice,

There is no way of knowing that the house will be reduced without talking to the seller, but you are certainly welcome to put a lower offer in than the asking price if the property is still available. The worst the sellers can do is say no. If you would like my help, I would be more than happy to contact the agent & see what I can find out about the property and any leniency on the price. Please email me at, or call me at 323-810-7976. FYI, I'm an agent with Coldwell Banker out of their Sherman Oaks office.

Thanks, have a great day!

John Barry
Coldwell Banker Residential Brokerage
DRE #01856079
0 votes Thank Flag Link Wed Mar 11, 2009
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