How much under asking have you gotten a property?

5 Replies

Has anyone ever successfully gotten a property for 60% or less of asking? There's a rental property I'm looking at just listed at 40k. They want cash only, and it needs alot of work. Just wondering how reasonable a 24k offer will be no contingencies

It all depends on the sellers motivation. Never base your offer on what you think the seller will accept. Always base your offer on what makes sense for you. 

I have bought a property for $11,000 that was listed for $69K. I bought another for $120K that the seller initially asked $250K. I had a seller that wanted $17K, she called me back about a year later and said she would give it to me. The contract price was $50.

Originally posted by @Ned Carey :

It all depends on the sellers motivation. Never base your offer on what you think the seller will accept. Always base your offer on what makes sense for you. 

I have bought a property for $11,000 that was listed for $69K. I bought another for $120K that the seller initially asked $250K. I had a seller that wanted $17K, she called me back about a year later and said she would give it to me. The contract price was $50.

Beautiful, but come on $50?  Was it because the seller owed back taxes on the property? 

The seller was all paid up on taxes. She was moving to England to be with her sister and wanted to get the property out of their names. Owning vacant property is a liability. 

I had to settle on the property so it cost a total of about $2500. I resold at auction for $5,000

Originally posted by @Ned Carey :

The seller was all paid up on taxes. She was moving to England to be with her sister and wanted to get the property out of their names. Owning vacant property is a liability. 

I had to settle on the property so it cost a total of about $2500. I resold at auction for $5,000

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here