Lowball Offers on the Rise

[patientlywaiting]

Pictures of the Point Loma house in question. Looks like a good deal to that low baller.

I personally don’t care about permits if the construction was done properly, according to safety codes. Permitting is just a way for the city to collect money and enforce zoning laws.

http://www.873lomavalley.com/

[jpinpb]

kev374 – Exactly! The sellers are unrealistic. WTH. I say buyers should make offers just as unrealistic.

I really believe though that the high prices are due to owners being maxed out, bought too high and can’t reduce or took HELOC and overextended and can’t reduce. Either way, those will eventually be short sales or bank owned.

For those who are serious and need out, then if people were more agressive w/low offers, the more they do, the better their chance.

[jpinpb]

kev374 – Exactly! The sellers are unrealistic. WTH. I say buyers should make offers just as unrealistic.

I really believe though that the high prices are due to owners being maxed out, bought too high and can’t reduce or took HELOC and overextended and can’t reduce. Either way, those will eventually be short sales or bank owned.

For those who are serious and need out, then if people were more agressive w/low offers, the more they do, the better their chance.

[jpinpb]

kev374 – Exactly! The sellers are unrealistic. WTH. I say buyers should make offers just as unrealistic.

I really believe though that the high prices are due to owners being maxed out, bought too high and can’t reduce or took HELOC and overextended and can’t reduce. Either way, those will eventually be short sales or bank owned.

For those who are serious and need out, then if people were more agressive w/low offers, the more they do, the better their chance.

[jpinpb]

kev374 – Exactly! The sellers are unrealistic. WTH. I say buyers should make offers just as unrealistic.

I really believe though that the high prices are due to owners being maxed out, bought too high and can’t reduce or took HELOC and overextended and can’t reduce. Either way, those will eventually be short sales or bank owned.

For those who are serious and need out, then if people were more agressive w/low offers, the more they do, the better their chance.

[jpinpb]

kev374 – Exactly! The sellers are unrealistic. WTH. I say buyers should make offers just as unrealistic.

I really believe though that the high prices are due to owners being maxed out, bought too high and can’t reduce or took HELOC and overextended and can’t reduce. Either way, those will eventually be short sales or bank owned.

For those who are serious and need out, then if people were more agressive w/low offers, the more they do, the better their chance.

[SD Realtor]

Patientlywaiting in general I do agree with what you are saying 100%. Nonetheless, if an inspector did find out about the work and cited you, you would indeed be responsible to prove that the qork did conform with all guidelines. I know of two people who did indeed get cited years after the work was done and the process was quite a chore to get the work remedied. So yes in general I would agree 100%. In this particular case I did not go into the home nor do I know the extent of the changes so for this home I cannot make a call. On the surface indeed it does look like a good deal was had.

As far as lowballing goes, I don’t think it damages anyone’s reputation at all. I think that lowballing is a great idea and I would advise it to anybody working in any markets but I would advise people to be realistic. You can try to lowball any property you like. I have many clients who routinely ask me to lowball or call on properties scattered throughout the county. In most all of those cases I am finding resistance where the agents politely reject the offer, or do not respond, or those that I call on the agents say thanks but don’t bother sending in the offers.

I absolutely believe if you don’t offer at all you will never know if you would have gotten a deal.

I think we can all see through the efforts of raptor, that the premium neighborhoods indeed are not responding to the type of lowball numbers posters here are implying will work or should be tried. Also I did indeed contest the post made by sandiegobanker in one of Rich’s threads that he was seeing foreclosures go 50% of the listed prices and such. Perhaps that is true in certain neighborhhods, but until I actually see the listing in the sold category, with a sold price that is 50% of the list price, I am skeptical.

As far as finding an agent to write up 100 offers at 50% of the list price, yeah it may work. I would say if you find an agent that will do it, go for it. However, if the agent is indeed that desperate then I would question the quality of the agent as to how did they get that desperate to begin with?

Anyways, lowballs are a good thing. I have been submitting them over the past home I have been looking to buy but so far no luck.

[SD Realtor]

Patientlywaiting in general I do agree with what you are saying 100%. Nonetheless, if an inspector did find out about the work and cited you, you would indeed be responsible to prove that the qork did conform with all guidelines. I know of two people who did indeed get cited years after the work was done and the process was quite a chore to get the work remedied. So yes in general I would agree 100%. In this particular case I did not go into the home nor do I know the extent of the changes so for this home I cannot make a call. On the surface indeed it does look like a good deal was had.

As far as lowballing goes, I don’t think it damages anyone’s reputation at all. I think that lowballing is a great idea and I would advise it to anybody working in any markets but I would advise people to be realistic. You can try to lowball any property you like. I have many clients who routinely ask me to lowball or call on properties scattered throughout the county. In most all of those cases I am finding resistance where the agents politely reject the offer, or do not respond, or those that I call on the agents say thanks but don’t bother sending in the offers.

I absolutely believe if you don’t offer at all you will never know if you would have gotten a deal.

I think we can all see through the efforts of raptor, that the premium neighborhoods indeed are not responding to the type of lowball numbers posters here are implying will work or should be tried. Also I did indeed contest the post made by sandiegobanker in one of Rich’s threads that he was seeing foreclosures go 50% of the listed prices and such. Perhaps that is true in certain neighborhhods, but until I actually see the listing in the sold category, with a sold price that is 50% of the list price, I am skeptical.

As far as finding an agent to write up 100 offers at 50% of the list price, yeah it may work. I would say if you find an agent that will do it, go for it. However, if the agent is indeed that desperate then I would question the quality of the agent as to how did they get that desperate to begin with?

Anyways, lowballs are a good thing. I have been submitting them over the past home I have been looking to buy but so far no luck.

[SD Realtor]

Patientlywaiting in general I do agree with what you are saying 100%. Nonetheless, if an inspector did find out about the work and cited you, you would indeed be responsible to prove that the qork did conform with all guidelines. I know of two people who did indeed get cited years after the work was done and the process was quite a chore to get the work remedied. So yes in general I would agree 100%. In this particular case I did not go into the home nor do I know the extent of the changes so for this home I cannot make a call. On the surface indeed it does look like a good deal was had.

As far as lowballing goes, I don’t think it damages anyone’s reputation at all. I think that lowballing is a great idea and I would advise it to anybody working in any markets but I would advise people to be realistic. You can try to lowball any property you like. I have many clients who routinely ask me to lowball or call on properties scattered throughout the county. In most all of those cases I am finding resistance where the agents politely reject the offer, or do not respond, or those that I call on the agents say thanks but don’t bother sending in the offers.

I absolutely believe if you don’t offer at all you will never know if you would have gotten a deal.

I think we can all see through the efforts of raptor, that the premium neighborhoods indeed are not responding to the type of lowball numbers posters here are implying will work or should be tried. Also I did indeed contest the post made by sandiegobanker in one of Rich’s threads that he was seeing foreclosures go 50% of the listed prices and such. Perhaps that is true in certain neighborhhods, but until I actually see the listing in the sold category, with a sold price that is 50% of the list price, I am skeptical.

As far as finding an agent to write up 100 offers at 50% of the list price, yeah it may work. I would say if you find an agent that will do it, go for it. However, if the agent is indeed that desperate then I would question the quality of the agent as to how did they get that desperate to begin with?

Anyways, lowballs are a good thing. I have been submitting them over the past home I have been looking to buy but so far no luck.

[SD Realtor]

Patientlywaiting in general I do agree with what you are saying 100%. Nonetheless, if an inspector did find out about the work and cited you, you would indeed be responsible to prove that the qork did conform with all guidelines. I know of two people who did indeed get cited years after the work was done and the process was quite a chore to get the work remedied. So yes in general I would agree 100%. In this particular case I did not go into the home nor do I know the extent of the changes so for this home I cannot make a call. On the surface indeed it does look like a good deal was had.

As far as lowballing goes, I don’t think it damages anyone’s reputation at all. I think that lowballing is a great idea and I would advise it to anybody working in any markets but I would advise people to be realistic. You can try to lowball any property you like. I have many clients who routinely ask me to lowball or call on properties scattered throughout the county. In most all of those cases I am finding resistance where the agents politely reject the offer, or do not respond, or those that I call on the agents say thanks but don’t bother sending in the offers.

I absolutely believe if you don’t offer at all you will never know if you would have gotten a deal.

I think we can all see through the efforts of raptor, that the premium neighborhoods indeed are not responding to the type of lowball numbers posters here are implying will work or should be tried. Also I did indeed contest the post made by sandiegobanker in one of Rich’s threads that he was seeing foreclosures go 50% of the listed prices and such. Perhaps that is true in certain neighborhhods, but until I actually see the listing in the sold category, with a sold price that is 50% of the list price, I am skeptical.

As far as finding an agent to write up 100 offers at 50% of the list price, yeah it may work. I would say if you find an agent that will do it, go for it. However, if the agent is indeed that desperate then I would question the quality of the agent as to how did they get that desperate to begin with?

Anyways, lowballs are a good thing. I have been submitting them over the past home I have been looking to buy but so far no luck.

[SD Realtor]

Patientlywaiting in general I do agree with what you are saying 100%. Nonetheless, if an inspector did find out about the work and cited you, you would indeed be responsible to prove that the qork did conform with all guidelines. I know of two people who did indeed get cited years after the work was done and the process was quite a chore to get the work remedied. So yes in general I would agree 100%. In this particular case I did not go into the home nor do I know the extent of the changes so for this home I cannot make a call. On the surface indeed it does look like a good deal was had.

As far as lowballing goes, I don’t think it damages anyone’s reputation at all. I think that lowballing is a great idea and I would advise it to anybody working in any markets but I would advise people to be realistic. You can try to lowball any property you like. I have many clients who routinely ask me to lowball or call on properties scattered throughout the county. In most all of those cases I am finding resistance where the agents politely reject the offer, or do not respond, or those that I call on the agents say thanks but don’t bother sending in the offers.

I absolutely believe if you don’t offer at all you will never know if you would have gotten a deal.

I think we can all see through the efforts of raptor, that the premium neighborhoods indeed are not responding to the type of lowball numbers posters here are implying will work or should be tried. Also I did indeed contest the post made by sandiegobanker in one of Rich’s threads that he was seeing foreclosures go 50% of the listed prices and such. Perhaps that is true in certain neighborhhods, but until I actually see the listing in the sold category, with a sold price that is 50% of the list price, I am skeptical.

As far as finding an agent to write up 100 offers at 50% of the list price, yeah it may work. I would say if you find an agent that will do it, go for it. However, if the agent is indeed that desperate then I would question the quality of the agent as to how did they get that desperate to begin with?

Anyways, lowballs are a good thing. I have been submitting them over the past home I have been looking to buy but so far no luck.

[NotCranky]

LJR,

It isn’t a question of reputation or mal-nutrition for me. I write low balls for credible clients. Maybe a buyer’s broker’s agreement is necessary if I don’t know them well.
Writing lots of 50% offers willy nilly is mostly impractical. That could get embarrassing. 30% could apply to a lot more situations.

SDR
As far as the Point Loma house goes…I would buy it in a heart beat if I were hunting there. Of course I can fix all that stuff for a fraction of what it costs other people. If the property had an open code violation case all the better for getting a bargain(depending on what it was).
That APPEARS to be a killer deal for TODAY’S market and probably tomorrows too, inclusive of the defects.

[NotCranky]

LJR,

It isn’t a question of reputation or mal-nutrition for me. I write low balls for credible clients. Maybe a buyer’s broker’s agreement is necessary if I don’t know them well.
Writing lots of 50% offers willy nilly is mostly impractical. That could get embarrassing. 30% could apply to a lot more situations.

SDR
As far as the Point Loma house goes…I would buy it in a heart beat if I were hunting there. Of course I can fix all that stuff for a fraction of what it costs other people. If the property had an open code violation case all the better for getting a bargain(depending on what it was).
That APPEARS to be a killer deal for TODAY’S market and probably tomorrows too, inclusive of the defects.

[NotCranky]

LJR,

It isn’t a question of reputation or mal-nutrition for me. I write low balls for credible clients. Maybe a buyer’s broker’s agreement is necessary if I don’t know them well.
Writing lots of 50% offers willy nilly is mostly impractical. That could get embarrassing. 30% could apply to a lot more situations.

SDR
As far as the Point Loma house goes…I would buy it in a heart beat if I were hunting there. Of course I can fix all that stuff for a fraction of what it costs other people. If the property had an open code violation case all the better for getting a bargain(depending on what it was).
That APPEARS to be a killer deal for TODAY’S market and probably tomorrows too, inclusive of the defects.

[NotCranky]

LJR,

It isn’t a question of reputation or mal-nutrition for me. I write low balls for credible clients. Maybe a buyer’s broker’s agreement is necessary if I don’t know them well.
Writing lots of 50% offers willy nilly is mostly impractical. That could get embarrassing. 30% could apply to a lot more situations.

SDR
As far as the Point Loma house goes…I would buy it in a heart beat if I were hunting there. Of course I can fix all that stuff for a fraction of what it costs other people. If the property had an open code violation case all the better for getting a bargain(depending on what it was).
That APPEARS to be a killer deal for TODAY’S market and probably tomorrows too, inclusive of the defects.

[Author]

Posts