Should I Re-Offer Lower After a Deal Falls Out of Escrow?

[Kwok Wong]

Looking for some input on a situation here.

A condo recently came back on the market. A few weeks ago, I had submitted an offer at $182K, but the seller went with another buyer. That deal just fell out of escrow and the property has been re-listed.

Now I’m debating whether to come back in with a new offer at $162K.

My thinking:

• If it fell out of escrow, there might have been appraisal/financing issues or something uncovered during due diligence.
• Seller might be more motivated now.
• But I don’t want to appear unserious or burn the relationship with the listing agent and my agent by coming in much lower than my original offer.

Has anyone here successfully re-offered at a lower price after losing out on the first round? How did you structure it so it didn’t come off as insulting?

Appreciate any thoughts on how to position this.

[Ken M.]

Quote from @Kwok Wong:

Looking for some input on a situation here.

A condo recently came back on the market. A few weeks ago, I had submitted an offer at $182K, but the seller went with another buyer. That deal just fell out of escrow and the property has been re-listed.

Now I’m debating whether to come back in with a new offer at $162K.

My thinking:

• If it fell out of escrow, there might have been appraisal/financing issues or something uncovered during due diligence.
• Seller might be more motivated now.
• But I don’t want to appear unserious or burn the relationship with the listing agent and my agent by coming in much lower than my original offer.

Has anyone here successfully re-offered at a lower price after losing out on the first round? How did you structure it so it didn’t come off as insulting?

Appreciate any thoughts on how to position this.

Have your agent ask the seller's agent what happened. They will usually discuss with another agent. It could be something simple (buyer lost his job) or serious title issue. You never know until you ask.