The golf analogy isn’t really that bad. It depends on what you are shooting at. You won’t likely get a low ball accepted on something everyone else is bidding on. That said I think it is best to take what the listing office is saying about traffic and offers with a grain of salt. So, only brand new listings are almost out of the realm of possibility with low-balls. Anything with market time is a candidate for 10-20% under asking bids or more.
There are occasionally properties that merit as much as 40% below asking offers, even after it has been reduced a few times.This would probably be a cash deal on a real dog.I have never gotten anything accepted more than 20% from asking but I see a good candidate for lower bids occasionally. These are properties that have problems and risks that the seller may or may not be aware of. One way or another, it is going to cost something to fix the problems. You have to point out what risks the buyer is taking that are not priced in.
When you write extreme low offers the idea is to have a good argument for it and then assume it won’t work.If you don’t get an answer and the property remains unsold, go back in a month or two to see what they think. There are one or two other threads on these kinds of offers in the archives.
