Low-ball offer in the Bay Area for condo/townhouse

2 Replies

I'm planning to buy 2-3 br townhouse/condo ranges 280-340k in Concord, Martinez area (within 1h driving to SF downtown).

I heard lowball offer (15-20% discount) work sometimes outside of Bay Area for old (2-3 months) or new listings.

Do you think it would work in the Bay Area (let's say 1 out 30-50)?

Lowball in the Bay Area may work...If the property has been on the MLS for a long time or if the property needs a lot of work or is in an "up and coming" neighborhood. Get yourself pre-approved with a lender first, otherwise you won't be taken seriously. Also...let your agent know in advance what you are looking at doing and see if they are willing to play ball.

Agreed with above- in many markets of the Bay Area, they'll just discard your offer. But the areas you're looking at are typically less fierce than South/East of SF. The market has cooled overall and many places are still priced very aggressively upfront, so use your judgement with agent input (if you trust them and they're on board with your approach).