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A... |
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memeA | If a condo is selling (listed on MLS) for 190,000? |
can anyone out there tell me what are my realtors chances of negotiating the price down to 180,000 my loan amount. I am not finding anything I like in my price range and dont have much time.
serious answers only please |
 |
 
SoSurreal♥
 |
VERY LIKELY!
i worked at Century 21 for a while as a receptionist ... and i learned many things ... I always would hear the agents talking about how you always want to offer an outrageously LOW amount first - then IF they reject it - no big deal / no loss - go up a little more. But now a days - with the economy being so poor ... people are selling for crazy low amounts! - if i were you i would definitely make an offer or 175/180. and i can almost guarantee they will accept.
but also - talk to your realtor about it ... get there advice also ... but remember they would rather you buy higher - so that they get more commission. So - if i were you i would approach them sounding confident that you dont want it for more than 180,000.
good luck! |
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WILLIAM K
 |
you have a very good chance |
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mycornerofbrickheaven
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Ask your agent for their guidance on this. They will be able to tell you how long the unit has been on the market and other things that will help you formulate a strategy.
Where I am our homes sell very close to list price, on average 97%. While you can always try a low offer, the longer it takes you to negotiate a price the more chance someone will come in, offer more and you lose the property.
Good luck! |
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island3girl
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I'd say very good with the right realtor
especially with the market at it is now.
good luck |
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Art
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It's possible, but it really comes down to the Seller's motivation! |
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Puddinhead
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Yes, you can offer whatever you please. The seller may accept it. Don't know unless you ask! Good Luck! |
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Ryan
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Offer 170,000. See what they say. The worst thing that can happen is they will say no. They might counter, and if not, you can make another offer the next day. Also remember that you are 'pre-approved' for 180k. If you negotiate a deal for say 185k, no bank in their right mind would refuse the loan for a 5000 difference. Your payments will be higher of course, mabey 30-40 a month depending on your terms, but you'll have the house you want. I say start with a lowball offer...you might be surprised, and go from there. If you have to settle on something over 180, I'm sure your bank will approve the loan anyway. |
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CJ
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A 10K drop down price in an offer is totally normal and do-able. Depends on how firm the sellers are and if they are willing to negotiate. In this current market, they are lucky they are even getting an offer. |
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iceman
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The average home sells for about 5% less then the orginal listing price. So based of that I would say you have a good chance of getting it for 180. You should offer 170-175 to start, and then hope you meet in the middle around 180. |
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Marty S
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Why not get a new company to give you a new preapproval letter? It takes less than a day! Shoot me an email to msmith@premierloangroup.com, and let's chat!
Marty |
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