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Why do people get angry when you make a low offer on a house?


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Well, as the seller you get excited when you hear that an offer is coming in. Then, if the offer is really low, there's disappointment, which can make people cranky.

 

Also, if the offer is very low, it feels like a waste of time. The seller has to feel that there is a chance you will be willing to pay what they are willing to accept or it seems pointless even to start negotiating.

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Well, as the seller you get excited when you hear that an offer is coming in. Then, if the offer is really low, there's disappointment, which can make people cranky.

 

Also, if the offer is very low, it feels like a waste of time. The seller has to feel that there is a chance you will be willing to pay what they are willing to accept or it seems pointless even to start negotiating.

 

 

:iagree: We had someone offer us $150K for our house listed at $250K.

 

I mean, really????!!!!! I was mad. It's true. You get your hopes up, then the offer is SOOOOO low - you fell that it is a colossal waste of time and completely pointless.

 

We did get that party to come up to $180K. Oh, joy.

 

(Never did sell. And now we get the benefit of the new floors, new carpet, and new kitchen!)

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I was a real estate broker for 10 years. Low offers are also insulting to sellers because most people feel what they have is like gold. They don't view their own home objectively. See, you view the place you live as your home (where you probably had kids, there are great emotional memories.) A buyer will view your home as just another house to compare. So, that's another reason people get offended by low offers. They find it insulting.

 

BTW, in 10 years I never had a low offer accepted. They are also very rarely countered.

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What if the counter-offer was $20,000 less than the original price? I wondered about that. I have been watching those House Hunters show on HGTV. Some of the offers they made on their select home was about 10,000 to 20,000 less than the original because of whatever....their offer was accepted.

 

Holly

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I think it depends on what cost of house you are talking about. $20K less off of 100K is a lot compared to a $350K house and asking 20K less. I would expect that as a possibility off of a 350K house.

 

Dawn

 

What if the counter-offer was $20,000 less than the original price? I wondered about that. I have been watching those House Hunters show on HGTV. Some of the offers they made on their select home was about 10,000 to 20,000 less than the original because of whatever....their offer was accepted.

 

Holly

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Our real estate agent was upset with us and did NOT want to submit our offer for $30,000 less than asking on this house. He said it was an insult and we would upset them and they would walk away period.

 

We told him that we didn't see the problem. It was our prerogative to offer and theirs to refuse. All they had to do was say no. We weren't willing to pay more. He reluctantly submitted it and the buyers JUMPED on it!! They didn't even counter and they also took care of every single thing on the inspection.

 

I say...who cares? Let them get mad. If you feel it's a fair offer for what you see, make it. The worst they can say is *no*. If they get mad, it's not going to affect *you*. Just move on. But...they might say YES!!! :)

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I think it depends on what cost of house you are talking about. $20K less off of 100K is a lot compared to a $350K house and asking 20K less. I would expect that as a possibility off of a 350K house.

 

Dawn

We were advised to offer 5-10% less than asking price initially. For a $200K house offering $20K less is about right .

 

And I don't know what happened to the other thread...

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We are waiting for a reply to a low offer. I have heard horror stories of sellers getting angry, and was trying to prepare myself when I asked my original question. I do consider our offer insultingly low in relation to the the asking price and to what the owner paid several years ago. But the offer is comparable to what other houses are going for in that area. Also a much larger house with coffered ceilings, aged brick features on the inside, a finished basement, and a large slate tile patio with outdoor fireplace is asking only 9K more for in the same neighborhood!! Our initial offer may be insulting, but it is also much more realistic. Also the seller has already moved to another state, so I am not inconveniencing them by looking at the house.

 

Michele

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Good luck, Michele -- I hope you get the house!

 

And I think you were right to offer what you felt the house was worth. The worst that can happen is that the owners say no, right? Besides, if the house isn't worth anywhere near the asking price, no one else is going to make a higher offer any time soon, either.

 

Has the house been for sale for a long time? If it's already vacant, the owners may be more relieved than insulted, as if they're overpriced, they may not have received any other offers.

 

Let us know if you get it!

 

Cat

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When my MIL's house was on the market we had dozens of low-ball offers from investors, but held out for several months because it was truly priced well. The realtor actually told us to be testy about the low-ball offers to get rid of them though because she was convinced that she could full price (which she did)!

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BTW, in 10 years I never had a low offer accepted. They are also very rarely countered.

 

We underbid a bit on our house, and they countered with something a little higher but still under the asking price, and we took it. That was before the housing boom hit this town, though, in 2000.

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