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Lowballing?

christian1971christian1971 Posts: 467 ✭✭✭
Finally got someone to actually make an offer on our home today. Once the realtor told us what the offer was, we almost were ready to cry. You do so much to prepare your house and are excited, only to get a lowball offer. Its market valued at $63,000. We put it at 59,900. We get an offer for 45,000. The girl (buyer) wanted to go higher, but her dad didn't. He'd pay 45000 cash. So we counter offered at 55,000. Take it or leave it. This is a rough time man. It has new siding, windows, door, insulation, shingles.

Comments

  • YankeeManYankeeMan Posts: 2,557 ✭✭✭✭✭
    Keeping in mind that our house was on the market during the worst of the housing market crash, we sold it to the first actual offer after one and a half years on the market for $10,000 less than the asking price and $40,000 below value.

    I had already moved south to start my new job and my wife was in Ithaca selling the house. Like your house, our roof was 4 months old, 2 year old furnace with a 25 years warranty, freshly painted, etc.

    I hope this person comes up to your figure. It is so discouraging to get the house all spruced up and have nothing come of it. Hang in there, there is a buyer for your house somewhere.

  • Thanatos0320Thanatos0320 Posts: 578 ✭✭✭
    Let me guess, the reason for such a low offer was "You won't get any more than that in this economy?" It sucks that people can't give a reasonable offer or aren't willing to negotiate.. They're all trying to get things for as cheap as possible. I've been through the same thing with you, but with a much worse offer. I understand how you're feeling.
  • matkn293matkn293 O'Fallon, MOPosts: 3,619 ✭✭✭✭✭
    How long has it been on the market? Everyone is lowball ing these days. However the market is coming up. Hopefully they will accept and you move on.

    Life is too short to smoke bad cigars!!!

    Oh when the Blues, Oh when the Blues, Oh when the Blues go marching in!


  • blutattooblutattoo Posts: 1,306 ✭✭✭
    It's not like that here. So few houses on the market here that houses sell for way over asking price. The only problem is when you turn around to buy another you are bidding with 10 other people. I guess the silver lining is now you probably can get another house for way less than asking price.
  • roland_7707roland_7707 Posts: 2,834 ✭✭✭
    Ours has been on the market for over two years. No one is even looking at it, online or in person. Right now it is reduced to the appraisal value, and the real estate agent has no idea whats going on.

    Good luck to yall.
    One God, One Truth
  • christian1971christian1971 Posts: 467 ✭✭✭
    roland_7707:
    Ours has been on the market for over two years. No one is even looking at it, online or in person. Right now it is reduced to the appraisal value, and the real estate agent has no idea whats going on.

    Good luck to yall.
    Man that is rough. Does that take a toll on the family?
  • christian1971christian1971 Posts: 467 ✭✭✭
    christian1971:
    Finally got someone to actually make an offer on our home today. Once the realtor told us what the offer was, we almost were ready to cry. You do so much to prepare your house and are excited, only to get a lowball offer. Its market valued at $63,000. We put it at 59,900. We get an offer for 45,000. The girl (buyer) wanted to go higher, but her dad didn't. He'd pay 45000 cash. So we counter offered at 55,000. Take it or leave it. This is a rough time man. It has new siding, windows, door, insulation, shingles.
    They went to $50,000. Moving in the right direction. Now they say that is the highest they will go. If they want it that badly, I think they will go higher. Won't find anything much better at our price. Its just the waiting, while our potential house is just sitting there. I need a beer!
  • roland_7707roland_7707 Posts: 2,834 ✭✭✭
    christian1971:
    roland_7707:
    Ours has been on the market for over two years. No one is even looking at it, online or in person. Right now it is reduced to the appraisal value, and the real estate agent has no idea whats going on.

    Good luck to yall.
    Man that is rough. Does that take a toll on the family?
    It does. We are ready for it to sell and we are trying to talk to Chase and either do a short sell or a 'deed in leu'(sp) which would take us from underneath it, but they are not cooperating. Lol.
    But having to have a house payment, that we dont live in, plus a lawn care service, cuz we now live 2 hours away, and rent where we now live, kinda bites into things.

    Still praying for ya man.
    One God, One Truth
  • jgibvjgibv John G.Posts: 9,320 ✭✭✭✭✭
    That stinks man, sounds like you're moving the right direction though.

    I think you're gonna get low balled by just about any buyer...around here it's definitely still a "buyer's market" and more houses for sale than people looking to buy them. Dunno if that's the case where you are though.

    Of course the buyer's are going to be looking for a "deal" and they are trying to figure out how low you'll go before getting pissed and telling them to "shove the offer where the sun don't shine."

    How long's your house been on the market? A while?


    * I have a new address as of 3/24/18 *

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