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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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What to bid?
My husband and I have been looking at houses for about 2 months. We finally found one that we love, but it is at the very top of our budget considering the taxes are also high.
The house was originally listed for 520 in April, and has since gone down to 459.
The market seems to be extremely dry right now, so a lot of family and friends are telling me to offer low.
I saw one comp go for about 378, but others around 420.
The only other homes we have bid on seemed to be fairly priced and had comps to match.
No idea where to start with this.
Any advice would be appreicated.
TIA
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Posted 12/7/10 3:09 PM  |
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Prudential Douglas Elliman Real Estate
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: What to bid?
without knowing what house it is exactly, i'd start at 380k
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| Posted 12/7/10 3:38 PM |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Re: What to bid?
Thanks for your input. I really appreciate it.
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| Posted 12/7/10 3:39 PM |
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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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Re: What to bid?
Posted by ave1024
without knowing what house it is exactly, i'd start at 380k
I agree, we always started aroudn 15% less than asking
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| Posted 12/7/10 4:41 PM |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: What to bid?
I'd go in at 350, the worst they can do is say no. Or they will counter. You really have nothing to loose.
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| Posted 12/7/10 4:43 PM |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Re: What to bid?
WOW 350 would be a crazy low bid to me. Id be afraid to offend them. Does anyone else feel that way?
Thanks for the input. I need a nice shove!!! :)
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| Posted 12/7/10 4:56 PM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
Name:
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Re: What to bid?
Posted by b2b777
WOW 350 would be a crazy low bid to me. Id be afraid to offend them. Does anyone else feel that way?
Thanks for the input. I need a nice shove!!! :)
I think 350 is a really low bid.
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| Posted 12/7/10 5:02 PM |
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julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: What to bid?
It depends on the comps... from what you are saying the comps are, I would go that far below them. Maybe 410. It depends if you really want the house or not.
I have my moms house on the market. IMO it is priced fair. If someone gave me a real lowball offer I would just say NO. Not even bother with countering. I would not consider you a serious buyer. We don't HAVE to sell it so we will wait. But maybe those people have to sell...If the house has been on the market for so long then maybe you have a better chance, it could go either way.
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| Posted 12/7/10 5:17 PM |
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babyonboard11
In love with my little man!!
Member since 8/10 1841 total posts
Name:
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Re: What to bid?
I would bid 380-390 - esp since the house was orignially listed at 520. The worst they can do is say no and come back with a counter - you never know their situation and might be willing to let the house go at lower than what you would think
Good Luck!
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| Posted 12/7/10 5:23 PM |
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VickiRG510
I'M A MOMMY!
Member since 3/09 1042 total posts
Name:
Vicki
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Re: What to bid?
Most houses end up selling for almost 40G less. I say start at 400K Good luck.
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| Posted 12/7/10 6:41 PM |
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MikesBride
LIF Adult
Member since 12/09 1245 total posts
Name:
Ilana
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Re: What to bid?
Posted by caps612
Posted by b2b777
WOW 350 would be a crazy low bid to me. Id be afraid to offend them. Does anyone else feel that way?
Thanks for the input. I need a nice shove!!! :)
I think 350 is a really low bid.
ITA, if it were me selling and I received that bid I wouldn't even counter, just tell them we're not interested in working with them.
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| Posted 12/8/10 8:05 AM |
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ThePinkGoose
In Your Hands
Member since 8/08 4706 total posts
Name:
Nunya
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Re: What to bid?
Posted by MikesBride
Posted by caps612
Posted by b2b777
WOW 350 would be a crazy low bid to me. Id be afraid to offend them. Does anyone else feel that way?
Thanks for the input. I need a nice shove!!! :)
I think 350 is a really low bid.
ITA, if it were me selling and I received that bid I wouldn't even counter, just tell them we're not interested in working with them.
With all due respect, I disagree. In this market, I think anything would be considered. I'm pretty certain that they would counter-offer but to simply reject someone for putting a low offer in? I just don't understand that reasoning. To be offended by an offer, how does that work?? Sorry if that comes across as judgmental or rude, I do not mean to be at all. It's just that I would appreciate any offer that came in, whether I was willing to accept it or not.
I would bid what you are comfortable with and if it's meant to be, it will be. For what it's worth, our home was mortgaged out at $500K when we bought it....we settled on a price of $289K. Granted, it was going into short sale but never give up hope. Good Luck! 
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| Posted 12/8/10 8:11 AM |
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Charly
LOVE!
Member since 5/05 12578 total posts
Name:
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Re: What to bid?
Posted by AnaMaree77
Posted by MikesBride
Posted by caps612
Posted by b2b777
WOW 350 would be a crazy low bid to me. Id be afraid to offend them. Does anyone else feel that way?
Thanks for the input. I need a nice shove!!! :)
I think 350 is a really low bid.
ITA, if it were me selling and I received that bid I wouldn't even counter, just tell them we're not interested in working with them.
With all due respect, I disagree. In this market, I think anything would be considered. I'm pretty certain that they would counter-offer but to simply reject someone for putting a low offer in? I just don't understand that reasoning. To be offended by an offer, how does that work?? Sorry if that comes across as judgmental or rude, I do not mean to be at all. It's just that I would appreciate any offer that came in, whether I was willing to accept it or not.
I would bid what you are comfortable with and if it's meant to be, it will be. For what it's worth, our home was mortgaged out at $500K when we bought it....we settled on a price of $289K. Granted, it was going into short sale but never give up hope. Good Luck!
ITA! I don't understand why people don't just try? My house has been on the market since July and we keep getting excellent feedback and no comments about the price, but we keep losing out to other houses prices slightly below ours (but we have more house.) They all say they liked ours better, but never made a bid. We aren't desperate to leave by any means, but we would consider any offer.
Message edited 12/8/2010 8:21:36 AM.
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| Posted 12/8/10 8:20 AM |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Re: What to bid?
I appreciate all of the input... Thanks!
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| Posted 12/8/10 10:00 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: What to bid?
380-390 if you really want the house and you would be upset if you didn't get it
350-360 if your ok with them not countering or you get outbid, and you won't kick yourself later when you see it sold for 375
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| Posted 12/8/10 10:30 AM |
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Sweetlax22
LIF Adult
Member since 5/10 1904 total posts
Name:
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Re: What to bid?
I would say 400, they already dropped their price A LOT from the original asking price so I wouldn't go much lower becasuse in their eyes they are already much lower.
Do you know anything or have any clues about their situation and how desperate they might be to sell the house?
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| Posted 12/8/10 4:03 PM |
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