offering a price!!

[tamtam]

hi all. i just bought a house with unbelievable expectations. the purchase price was advertised for around 320k. i was going to offer about 300k but thought i would take a chance and offer a really stupid amount which was 260k. they initially declined but 3 days later the real estate contacted me and asked me if the offer still stood. of course i said yes!! what i have found out is that they were going through a divorce and had to sell quick. in a way i feel a little guilty!! that is 60k saving!!!!!


if you have the desire you will succeed
www.internetwealthmaking.com

 

[Perp]

Congrats, tamtam!

But I wonder why they didn't at least counter-offer at, say, $300K first? Or even $280K?

I often hear stories like this and wonder what the vendors are thinking, accepting low ball offers without even attempting to negotiate... Can anybody enlighten me?

 

[ianvestor]

I also wonder why some vendors fail to counter offer and negotiate. Maybe they just couldn't be bothered (Maybe they thought after a few more days of stress and effort you might still only pay 270k).

I just recently got a site for 1.22m... it was my first offer which was accepted with no counter and no negotiation... However I would have happily paid 1.35m. That's $130,000!

 

[jaycee]

The vendor doesn’t bother, because they are in a pickle, and, in a lot of circumstances, they take the r/e's view into consideration…. Why wouldn’t the r/e suggest a straategy (counte4r offer at this price, then neogitaite , worst comes to worst , we takle the $260, best case scenario, we take $300)

 

[slingshot]

Hi tamtam,

Nice work. As a matter of interest will you refinance straight away and free up that gain or just sit on it?

Ianvester I hope that I get to your stage some day. I got one last year, listed at 274k and I got it for 217k, thought that was quite good but I wish I could do the same with 7 digit sums.....maybe one of these days, Im working on it.

Slingshot

 

[lizzie]

well done tamtam

they probably didn't counter because your offer was rejected and you didn't come back with a counter to their rejection - the agent probably thought you were willing to walk away and the vendors just wanted it sold as quick as possible.

at the end of the day, in a divorce, they would've only got another $20k each if they'd try to hold out for $300k - a price that may have never come - and they just want to get on with their lives.

 

[skater]

Congratulations! What a great result.

 

[BV]

tamtam

Excellent work
It feels good when you get equity from day 1

Cheers

 

[IshQ]

Well Done!

and i thought i was doing good getting a property at $30K below asking!

 

[boods99]

Maybe the vendors were worried that you would be scared away if they counter offer...strange things go through your head when you are desperate to sell, I should know, my house has been on the market for 11 months, I would kill for a lowball offer!!

Boods

 

[Dazz]

hi all. i just bought a house with unbelievable expectations. the purchase price was advertised for around 320k. i was going to offer about 300k but thought i would take a chance and offer a really stupid amount which was 260k. that is 60k saving!!!!!

IF the value of the property is 320K....if the value of the property is 260K, then the saving is zero.

 

[GIDDO]

What would the place rent for?
Usually that gives a good indication about real value of the property.

Re: low offers

When i look at a property i always dig to try to find the circumstances.
I bought a place last year at a good price simply because it was 2 sisters selling their father's deceased estate.

I offered $20% below the listed price.

As Lizzie said, $40,000 off the list price is only $20,000 each.


Also people have a lot different thought processes when a death and inheritance is involved.

Some bereaved people see it as undignified to barter too much about their inheritance, and the REA will play on this.

 

[Aimjoy]

Well done tamtam,

Whenever I get my first offer accepted I wonder if I should have offered even less.

But don't knock the effect of the 3 D's - Death, Divorce, De-Bank!

Cheers,
Aimjoy

 

[ianvestor]

Whenever I get my first offer accepted I wonder if I should have offered even less.

Me too, but I see it more as something fun to day-dream about rather than seriously regret not doing.

If you're confident that you have bought well and that you will do well out of the property anyway, be at peace with your purchase; You might have beat someone else's offer by a smaller margin than you think and offering less may have resulted in an outright NO, with no opportunity to negotiate.

 

[tamtam]

What would the place rent for?
Usually that gives a good indication about real value of the property.


giddo, i have beed told that i should get about 255-265 per week. i will get a few real estates to do this and pick the best figure!!

www.internetwealthmaking.com
if you have the disire you will succeed

 

[WBG Redcliffe]

This was an awesome result for you.

But It makes me wonder what the agent gets paid for? I would like to think the agent would have the skills to be able to sus out the buyer without risking the sale.

When I here stories like this I would like to know who the agent was so I don't ever sell with him/her.