How low have you offered from the listing price

Question

I am curious to know how low anyone has offered on a property? Like what was the listing price and how much did you offer?

Jay Helms · Answer

@Ben Miculob - 2 examples, part of the reason my realtor calls me Mr. Lowball. A duplex, list price was $130, I offered $90k...which apparently was to high as the seller immediately accepted. The second was a SFH, list price was $250k, offered $187k, we purchased at $215k.

Why do you ask?

Sam LLoyd · Answer

I'll chime in first.

The biggest spread I've done is a duplex where they were asking 169... which was actually a pretty fair price for the property and 2 extra lots.  I was unable to afford it with my current situation,  but the seller noticed me driving by slowly and came out to talk to me.  Told me to just make an offer.  I wasn't out to take money from anyone so I figured out that 124 would be the price I couldn't walk away from and they took it after a little back and forth with owner finance terms.... so that's 73% of list... and I still live in it..

Mike Taravella · Answer

Hello @Ben Miculob

I always offer so the deal makes sense if it is accepted. I usually like to build up to my offer so by my third offer, that is my target price to purchase.

If the seller accepts your offer on the first round of negotiations, you didn't negotiate enough. Also, you must be able to walk away form a deal if the numbers don't make sense.

My agent was baffled that I walked away from a deal over $1,500 difference.

Let me know if you have any other questions.

Ben M. · Answer

I ask because the properties I’ve been analyzing seem to require low ball offers for me to cash flow from them. This is great info thank you

How low have you offered from the listing price

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