is 50,000 to much

to ask off an asking price? if the house has a lot of work to be done? what is the amount you can usually offer lower than asking?

Re: is 50,000 to much

What is the asking price?

Re: is 50,000 to much

well, how is in priced in regards to the area?

Re: is 50,000 to much

That seems a bit much, even in today's market.

We started only $25000 below asking and we were shunned at.

Re: is 50,000 to much

for a 3 bedroom that needs a lot of work its 450. the area is nice but the taxes are also high..they are 6500.

Re: is 50,000 to much

Re: is 50,000 to much

I think $50,000 less is a lot. And those taxes are not high at all.

Message edited 3/6/2007 10:46:42 AM.

Re: is 50,000 to much

$6500 is low.....Make sure that is without star. You can call the town and find out

Re: is 50,000 to much

Just to give you an idea.

We settled on 93,000 less than their original asking price in the summer.

They brought it down about 65K from their original asking to when we saw it. We bid 50K below that new asking price. We settled on 28K less than the new asking price. I think it's worth it. It was for us.

Anything is possible. If it doesn't happen it wasn't meant to be. That's how we looked at it.

Message edited 3/6/2007 10:48:17 AM.

Re: is 50,000 to much

My friend just bought a house in Oakdale and they started at $75,000 below asking and ended up at $50,000 below asking.
It depends on how long the house has been for sale, if they've reduced the price recently and how much it's going for compared to the area.

Re: is 50,000 to much

We offered 10% below asking and settled at 6% below asking. There is nothing wrong with a lowball offer. The worst that can happens is they counter. Go for it - you have no idea what their situation is.

Re: is 50,000 to much

It defintely depends on the area and amount of work it needs. We just bid on a house that they were asking $519,000 with $8,400 for taxes (without star of $1000) and we bid $490,000 (it's a 4br cape). The owner came back with $515,000 and it's now down to $510,000.


So essentially, it's was $29,000 less.

Re: is 50,000 to much

Depends on what the other houses in the area are going for. I think $50k less is too low unless they have priced the house too high. But you can always try and see if they give you a counter offer.

Re: is 50,000 to much

Re: is 50,000 to much

Depends on the house. We offered and got our house for $50,000 less.

Re: is 50,000 to much

Re: is 50,000 to much

Go for it -- the worst they'll say is no.

Re: is 50,000 to much

I would. Has it been on the market long? If you like it go for it

Re: is 50,000 to much

I think it totally depends on how much the house is going for, in addition to how long it has been on the market and whether or not it is reasonably priced. $50,000 off a $400,000 home is a much bigger deal than $50,000 off of a $800,000 home.

Re: is 50,000 to much

like others have said it really depends on how the house is priced compared to other homes in the area in teh same condition and how long it has been on the market.....

and how bad the sellers want to need to get out...........

50,000 seems a bit high in long island - unless the house was way overprised to begin with....

we looked at so many houses in the last year that on there own dropped 50k and more in teh asking price... but to us were still not worth it...

our house was only on the market for a day when we saw it --- we bid 20k less, and ended up paying 10k more , so a total of 10k less than the asking price.... the house was very fairly priced for the area and the potential it has though... thats why they had multiple offers right away!

Re: is 50,000 to much

NOt bad at all Justine, We did the same we went 25k less on the asking price and came back with a bit more . So, be e prepared for that. Every house I saw needed so much work. And felt the prices were outreageous too. It also depends on location too?

Re: is 50,000 to much

I think it depends on how long the house has been on the market. If it's new - they might not consider you. If it's old and they have already dropped considerably they might not consider either.

but if it's been awhile and they haven't dropped - than maybe they would consider.


i think either way - be prepared for a counter offer.