lowball offer (by DD [ON]) Oct 8, 2018 12:22 PM|
lowball offer (by Richard [MI]) Oct 8, 2018 12:37 PM
lowball offer (by NE [PA]) Oct 8, 2018 12:57 PM
lowball offer (by gevans [SC]) Oct 8, 2018 1:25 PM
lowball offer (by AllyM [NJ]) Oct 8, 2018 1:43 PM
lowball offer (by Ken [NY]) Oct 8, 2018 2:42 PM
lowball offer (by Robert,OntarioCanada [ON]) Oct 8, 2018 6:15 PM
lowball offer (by Robert J [CA]) Oct 8, 2018 7:24 PM
lowball offer (by cjo'h [CT]) Oct 8, 2018 7:30 PM
lowball offer (by cjo'h [CT]) Oct 8, 2018 7:40 PM
lowball offer (by Tom [FL]) Oct 8, 2018 11:36 PM
lowball offer (by Plenty [MO]) Oct 9, 2018 6:50 AM
lowball offer (by DJ [VA]) Oct 9, 2018 10:56 AM
lowball offer (by Landlord ofthe Flies [TX]) Oct 9, 2018 10:58 AM
lowball offer (by John2 [MI]) Oct 9, 2018 4:43 PM
lowball offer (by DD [ON]) Posted on: Oct 8, 2018 12:22 PM
First time posting. THANK-YOU to all those who share their wisdom here!!!
When placing a low-ball offer, how do you decide how low to go?
We are considering a property, very motivated sellers, it has been "sitting" for several weeks, houses here, an hour outside of Toronto, Canada, typically sell within days, at above listed price.
lowball offer (by Richard [MI]) Posted on: Oct 8, 2018 12:37 PM
If they are truly motivated, it will be gone fast, especially in a seller's market like what you are describing.
Why not try the "what if" approach?
Try and find what they need and see if you can give it to them.
Can you take over loans or debts they owe? Can you hire a uhaul to MOVE them? Can you trade something you have that they might want? --23.121.xx.xxx
lowball offer (by NE [PA]) Posted on: Oct 8, 2018 12:57 PM
How low do I go? Haha. Depends on how motivated they are.
If I'm looking at a total s%^}hole and the owners think they have a gold mine, sometimes I won't even make an offer.
The more they want out of the property, the lower my offer is.
You should be embarrassed to present it.
Closing on one this week for $15,500. Appraised less than 10 years ago for $113,000, I'm 99.99% certain it's in the same condition today as the old appraisal. Assessed at $88,000. Just relisting at 50k and hopefully dumping it.
I was embarrassed offering that price and they didn't even flinch. I could've probably got it for less. --50.107.xxx.xxx
lowball offer (by gevans [SC]) Posted on: Oct 8, 2018 1:25 PM
Offered $37k on one yesterday... listed at $72k.
They came back at $55k. $40 is as high as I'll go on this one. Maybe they'll call me back, maybe not. --98.122.x.xx
lowball offer (by AllyM [NJ]) Posted on: Oct 8, 2018 1:43 PM
Why is this land rush happening? Are they refugees? Maybe Middle Eastern refugees? Or are they U.S. people who said they were leaving because they didn't like our President? --73.178.xxx.xx
lowball offer (by Ken [NY]) Posted on: Oct 8, 2018 2:42 PM
I get an idea of what is owed,taxes,mortgage etc and if it is a doable deal for me after listening to there story I ask if there goal is just to get out from under the house and if they say yes I just proceed to write it up.Often I can get a deal without actually giving a price,many sellers don't have a profit motive like we do,they just want the problem to go away and if you can make the problem go away you can have it at any price --72.231.xxx.xxx
lowball offer (by Robert,OntarioCanada [ON]) Posted on: Oct 8, 2018 6:15 PM
In a sellers market often people pay more then the asking price. Until interest rates go up then it is going to be a sellers market not a buyers market. One can always look at ads on the www.kijiji.ca website houses for sale. --147.194.xxx.xx
lowball offer (by Robert J [CA]) Posted on: Oct 8, 2018 7:24 PM
I made a good low ball offer to purchase a four unit property. The sellers were so angry with me because I didn't offer the full price. When my real estate agent told them of my inspection report saying I had to deal with issues, they asked for a copy. I then provided them with a detailed copy of my report. Now this was a known to the sellers and required to disclose to any other buyer.
So after my offer had expired, they accepted it. I said no way. I need to deduct for the permits, lead paint removal, asbestos ceilings and shifting foundation. Please accept my previous offer less $50,000.
That offer was accepted within hours. The sellers knew if they had that work performed it would cost them 100 grand. Since I'm a contractor I can do the work for less.
The sellers got more than the fair value less repairs and I got a good deal since the work that needed to be done would cost me around 20K. --47.156.xx.xx
lowball offer (by cjo'h [CT]) Posted on: Oct 8, 2018 7:30 PM
DD,welcome to the Club,Don't offer too much,listen to NE,used to live in. Brockville,maybe should have stayed there,still have a building lot out Highway 29,like money in the Bank,beyond Tincap...............charlie................ --32.214.xxx.xx
lowball offer (by cjo'h [CT]) Posted on: Oct 8, 2018 7:40 PM
Miss Ally,you besmirch the Office by implying he should be there...................chArlie........................... --32.214.xxx.xx
lowball offer (by Tom [FL]) Posted on: Oct 8, 2018 11:36 PM
DD of ON, If this property is for investors either flippers or use as a rental maybe because of condition it may not get financed by most owner occupants. What will your hard costs be: taxes, Insurance, any utilities you pay as the landlord? etc. What has the comparative properties in the area sold for in the last six months? What will the monthly rental be on the property once you do all the needed maintenance and any updates on the property. Most likely freshly painting ceiling, walls, doors and trim, new click vinyl floor once you remove the worn carpet. How much is the deferred maintenance on the property? If you know all the various costs and expenses then it will help to make the low ball offer and if the seller counters to walk away if they are being unreasonable. Remember DO NOT get emotional with the property treat it as a business and if the number and expenses do not look good on paper nothing will change that for you. PLUS if you make several bad investments you will not make money and get out fo the business. Go for it low ball it and see what happens to your offer. --99.56.xx.xx
lowball offer (by Plenty [MO]) Posted on: Oct 9, 2018 6:50 AM
Put an offer on it of what you want to pay, a realistic number that they will accept. You are not even in the game until you do the paper work and put it out there. --99.203.xx.xxx
lowball offer (by DJ [VA]) Posted on: Oct 9, 2018 10:56 AM
I agree with Richard, in that I would talk to them face-to-face and try to find out more about their situation and what they need. Give them a solution, if you can.
Also, when negotiating, say "so what your saying is, if you don't get $xxx, you won't sell it?" Be quiet and wait for them to reply.
And start ridiculously low. --68.10.xxx.x
lowball offer (by Landlord ofthe Flies [TX]) Posted on: Oct 9, 2018 10:58 AM
If it's truly a seller's market, your lowball offer will be in a stack of offers higher than yours, and maybe higher than their list price. Better not be too low, and it had better have some perks and conveniences like as is, no inspection period, quick close, willing to give them time to move out at their convenience, etc. Can't just be a lowball offer. --108.69.xxx.xxx
lowball offer (by John2 [MI]) Posted on: Oct 9, 2018 4:43 PM
First do your rough numbers.. market price - repairs =offer
Next think about conveniences/perks.... I have been successful in offering quick closing and giving them extra time to move also ask if you can start working while they move out :)
*i’m going to offer a “storage unit” for 3 months in my next offer.... --24.247.xxx.xxx