How low is the least acceptable lowball offer?

[kev374]

I checked ZipRealty and according to them most transactions are going for 5% below asking right now. So, if a seller is really motivated to sell then 10% below asking shouldn’t be unrealistic I think…certainly not to the point of being insulting.

I have done my HW and I can see that the inventory is quite large in South OC and the DOMs for the listings seem quite high. Buyers are in a holding pattern right now which requires sellers to be more flexible in their prices. Just how the market works!

I am only talking about the South OC market, I have no clue about San Diego and other markets as I don’t monitor them 🙂

[jpinpb]

The offer I made on the house I purchased was about 8% below their asking. It was bank owned and had been on and off the market for something like two years when they were trying to short sell. They accepted my offer. How long has this place you are interested in been on the market? They are more inclined to accept a lowball offer if it’s been on the market for a while. Even if they’ve reduced recently. 10% is not unreasonable. However, 10% on a higher priced property is more acceptable than, say, 10% reduction on a lower priced condo. I say it’s worth a try. But as mentioned, be prepared that if they reject it, they may not be inclined to counter or consider other offers. It can be emotional.

[jpinpb]

The offer I made on the house I purchased was about 8% below their asking. It was bank owned and had been on and off the market for something like two years when they were trying to short sell. They accepted my offer. How long has this place you are interested in been on the market? They are more inclined to accept a lowball offer if it’s been on the market for a while. Even if they’ve reduced recently. 10% is not unreasonable. However, 10% on a higher priced property is more acceptable than, say, 10% reduction on a lower priced condo. I say it’s worth a try. But as mentioned, be prepared that if they reject it, they may not be inclined to counter or consider other offers. It can be emotional.

[jpinpb]

The offer I made on the house I purchased was about 8% below their asking. It was bank owned and had been on and off the market for something like two years when they were trying to short sell. They accepted my offer. How long has this place you are interested in been on the market? They are more inclined to accept a lowball offer if it’s been on the market for a while. Even if they’ve reduced recently. 10% is not unreasonable. However, 10% on a higher priced property is more acceptable than, say, 10% reduction on a lower priced condo. I say it’s worth a try. But as mentioned, be prepared that if they reject it, they may not be inclined to counter or consider other offers. It can be emotional.

[jpinpb]

The offer I made on the house I purchased was about 8% below their asking. It was bank owned and had been on and off the market for something like two years when they were trying to short sell. They accepted my offer. How long has this place you are interested in been on the market? They are more inclined to accept a lowball offer if it’s been on the market for a while. Even if they’ve reduced recently. 10% is not unreasonable. However, 10% on a higher priced property is more acceptable than, say, 10% reduction on a lower priced condo. I say it’s worth a try. But as mentioned, be prepared that if they reject it, they may not be inclined to counter or consider other offers. It can be emotional.

[jpinpb]

The offer I made on the house I purchased was about 8% below their asking. It was bank owned and had been on and off the market for something like two years when they were trying to short sell. They accepted my offer. How long has this place you are interested in been on the market? They are more inclined to accept a lowball offer if it’s been on the market for a while. Even if they’ve reduced recently. 10% is not unreasonable. However, 10% on a higher priced property is more acceptable than, say, 10% reduction on a lower priced condo. I say it’s worth a try. But as mentioned, be prepared that if they reject it, they may not be inclined to counter or consider other offers. It can be emotional.

[(former)FormerSanDiegan]

If you submit enough 10% below asking price offers, eventually one will bite. That home will be the one that was overpriced by at least 10%.

[(former)FormerSanDiegan]

If you submit enough 10% below asking price offers, eventually one will bite. That home will be the one that was overpriced by at least 10%.

[(former)FormerSanDiegan]

If you submit enough 10% below asking price offers, eventually one will bite. That home will be the one that was overpriced by at least 10%.

[(former)FormerSanDiegan]

If you submit enough 10% below asking price offers, eventually one will bite. That home will be the one that was overpriced by at least 10%.

[(former)FormerSanDiegan]

If you submit enough 10% below asking price offers, eventually one will bite. That home will be the one that was overpriced by at least 10%.

[beanmaestro]

You could always get a friend to bid at 15% below ask the week before you offer 10% below ask. One of my friends is a permabear, and gets his giggles by making ~25% off bids.

And for what it’s worth, we got our first choice house offering 7% under ask. The sellers countered halfway, and we said, no, our first bid was a firm offer. Their agent called us back to accept a half-hour later.

[beanmaestro]

You could always get a friend to bid at 15% below ask the week before you offer 10% below ask. One of my friends is a permabear, and gets his giggles by making ~25% off bids.

And for what it’s worth, we got our first choice house offering 7% under ask. The sellers countered halfway, and we said, no, our first bid was a firm offer. Their agent called us back to accept a half-hour later.

[beanmaestro]

You could always get a friend to bid at 15% below ask the week before you offer 10% below ask. One of my friends is a permabear, and gets his giggles by making ~25% off bids.

And for what it’s worth, we got our first choice house offering 7% under ask. The sellers countered halfway, and we said, no, our first bid was a firm offer. Their agent called us back to accept a half-hour later.

[beanmaestro]

You could always get a friend to bid at 15% below ask the week before you offer 10% below ask. One of my friends is a permabear, and gets his giggles by making ~25% off bids.

And for what it’s worth, we got our first choice house offering 7% under ask. The sellers countered halfway, and we said, no, our first bid was a firm offer. Their agent called us back to accept a half-hour later.

[Author]

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