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would it be obnoxious to ask 12% off the asking price

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Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

would it be obnoxious to ask 12% off the asking price

for a home that is in need of considerable upgrades and is just slightly off the mark of it's comparables

(ie slightly MORE dated kitchen, only 1.5 baths when all others have at least 2)

I just feel like they reached a bit too high in the hopes of someone overstepping a bit...but I don't want to "offend" them either.

they have a nice home. just would take a bit more to bring it into this millenium Chat Icon

Posted 7/21/08 12:19 PM
 
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BaroqueMama
Chase is one!

Member since 5/05

27530 total posts

Name:
me

Re: would it be obnoxious to ask 12% off the asking price

Hell, we offered more than 12% less than the asking price on our house and it needed a TOTAL update. And guess what? We bought it at that "low ball" priceChat Icon So, it's totally possible. In this flooded market, I should hope people would be willing to accept less or else they'll be like all the other hundreds of empty houses I've seen in the last few months that can't sell.

Posted 7/21/08 12:36 PM
 

Rycois
Blessed with 2blue/2pink

Member since 12/05

13341 total posts

Name:
J

Re: would it be obnoxious to ask 12% off the asking price

That's about what we got our home for - 12% less than asking - and they were priced to sell. But, the house needed an update in EVERY room (almost 2 yrs later we're still working on it). It can't hurt to throw it out there!

Posted 7/21/08 12:37 PM
 

HelenZ
So worth the wait :)

Member since 10/07

2862 total posts

Name:
Helen

Re: would it be obnoxious to ask 12% off the asking price

go for it!! anytime a house needs upgrades its fair to lowball your bid. our first bid was 11% lower than asking price, we haggled back & forth and in the end wound up paying 5% less than asking price (diff. of 20K)

Posted 7/21/08 1:00 PM
 

donegal419
St. Gerard, pray for us.

Member since 7/07

7650 total posts

Name:
K

Re: would it be obnoxious to ask 12% off the asking price

not at ALL! in this market, anything goes! We got our house for about 12% less than the asking and it was in move-in conidtion with all major work done.

we actually lowballed it a lot and then they countered a few times until we got to about the 12% below, which was just what we were comfortable with to pay.

GOOD LUCK!

Posted 7/21/08 1:03 PM
 

TreAnt427
-

Member since 8/06

8652 total posts

Name:
Tracy

Re: would it be obnoxious to ask 12% off the asking price

Go for it! The worst they could do is counter offer.

Posted 7/21/08 1:33 PM
 

MegZee
My bunny

Member since 5/06

8777 total posts

Name:
Meaghan

Re: would it be obnoxious to ask 12% off the asking price

no way! they can always counter. Keep us updatedChat Icon

Posted 7/21/08 4:36 PM
 

Kara
Now Zagat Rated!

Member since 3/07

13217 total posts

Name:
They call me "Tater Salad"

Re: would it be obnoxious to ask 12% off the asking price

It's not obnoxious if the house is overpriced at least that much. Heck, i don't think 12% is obnoxious unless the house is way underpriced. Even if it is, you offer what it's worth to you!

We paid far more than 12% below asking on our house, as our house was overpriced and needed more work than other "comps" in the area.

If the house is overpriced, then it's a fair offer. And even if it's not overpriced according to the comps (though it sounds like it is), always offer what you think the house is worth to you. Worst they can do is say no. Chat Icon I didn't worry too much about offending sellers when we were buying. It's not like you're offering $200k on a $550k home or something!

However, and this is just a general comment, not every house is overpriced in this market. For every seller who is out of their mind thinking their house is worth way more than it is in this market, there is a buyer who thinks EVERY single house is overpriced. From the OP's post, though, it sounds like this house is priced pretty high and above comps (so this comment isn't directed at her, just at those intimating that every offer should be a "lowball" offer in this market). It always depends on the house.

Posted 7/21/08 4:51 PM
 

Kara
Now Zagat Rated!

Member since 3/07

13217 total posts

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They call me "Tater Salad"

Re: would it be obnoxious to ask 12% off the asking price

Posted by Ophelia



they have a nice home. just would take a bit more to bring it into this millenium Chat Icon



Sounds like the house we bought! Ours was all orange shag carpet. Is yours pre-shag era?!

Posted 7/21/08 4:53 PM
 

Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

Re: would it be obnoxious to ask 12% off the asking price

Posted by Kara

Posted by Ophelia



they have a nice home. just would take a bit more to bring it into this millenium Chat Icon



Sounds like the house we bought! Ours was all orange shag carpet. Is yours pre-shag era?!



you tell me Chat Icon

there is carpet everywhere, but I don't know anything about carpet...I lived on hardwoods and linoleum my entire life Chat Icon

we really like this house though...but the price is not quite right for the age of the kitchen and bath (though the paint on the second floor full bath is at least nice and bright.)

I wouldn't mind PAYING in the end about 7% off the list price...but it definitely doesn't merit a full price offer.

Message edited 7/21/2008 4:58:15 PM.

Posted 7/21/08 4:57 PM
 

MST9106
My life:)

Member since 6/06

9589 total posts

Name:

Re: would it be obnoxious to ask 12% off the asking price

The house is lovely and in decent shape. I'd say go for the 12%...I'm sure they'll counter-offer...but I would buy it for $300K

Posted 7/21/08 5:00 PM
 

Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

Re: would it be obnoxious to ask 12% off the asking price

Posted by MST9106

The house is lovely and in decent shape. I'd say go for the 12%...I'm sure they'll counter-offer...but I would buy it for $300K



dude, I am about to barf!!!!!!!!!

how did I get myself into this?!?!?!!?!?!?!??!!??!?!?

I haven't felt like this since 4/23/06!!!!! Chat Icon Chat Icon Chat Icon Chat Icon Chat Icon Chat Icon

Max and mikey look beyond adorable btw. Chat Icon

ETA: my realtor is going to look at more comps but said 10% may be a better starting offer (off the list price) since the area is muy desireable.

Message edited 7/21/2008 5:24:53 PM.

Posted 7/21/08 5:23 PM
 

BaroqueMama
Chase is one!

Member since 5/05

27530 total posts

Name:
me

Re: would it be obnoxious to ask 12% off the asking price

That's a GREAT house! However, it's more updated than our house was when we bought it, so it looks brand new compared to over hereChat Icon GOOD LUCK!

Posted 7/21/08 11:13 PM
 

Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

Re: would it be obnoxious to ask 12% off the asking price

Posted by prncss

That's a GREAT house! However, it's more updated than our house was when we bought it, so it looks brand new compared to over hereChat Icon GOOD LUCK!



my realtor just got all the specs from the selling agent...all the important stuff...roofs/septic/oil tank/well...all of that stuff is NO LESS THAN 10 years old.

they really haven't done much updating at all....

knowing this makes me feel LESS bad about the 12%...it's like they said...here's my house...I haven't done sh1t with it, but I want you to pay top dollar. Chat Icon Chat Icon

the bottom floor floors have ply wood underneath the carpet...so we'd have to do the floors right away. grrrrr.

still, we do heart this house.

sucky part is it hasn't even been on the market a month...they have yet to sweat Chat Icon

ETA: THANK YOU btw. it looks better in person than it does in the pics, I swear!

Message edited 7/21/2008 11:22:39 PM.

Posted 7/21/08 11:21 PM
 

BaroqueMama
Chase is one!

Member since 5/05

27530 total posts

Name:
me

Re: would it be obnoxious to ask 12% off the asking price

Ours was on the market for mere days before we low balled them. Look in my album, they were in no shape to say no to usChat Icon

Posted 7/21/08 11:29 PM
 

MST9106
My life:)

Member since 6/06

9589 total posts

Name:

Re: would it be obnoxious to ask 12% off the asking price

I'm excited for you! The grounds are beautiful...and of course the house is great as well! I hope all works out for you...hey, its time for another chapter since 4/23/06Chat Icon Chat Icon

Posted 7/22/08 11:34 AM
 

leighdvm
My golden boys!

Member since 3/06

4419 total posts

Name:
Michele

Re: would it be obnoxious to ask 12% off the asking price

I just wanted to say that I think the house is gorgeous!!! I love the beams on the ceiling, are they original? I love old homes!!!

Posted 7/22/08 11:38 AM
 

Ophelia
she's baaccckkkk ;)

Member since 5/06

23378 total posts

Name:
remember, when Gulliver traveled....

Re: would it be obnoxious to ask 12% off the asking price

Posted by leighdvm

I just wanted to say that I think the house is gorgeous!!! I love the beams on the ceiling, are they original? I love old homes!!!



thank you. yes, the beams are original to the house.

it needs work, but it's so cute!!!!! and it's surrounded by horse farms Chat Icon Chat Icon

Posted 7/22/08 12:36 PM
 

LightUpOurLife
Totally in love

Member since 8/06

12785 total posts

Name:
Bonnie-Jean

Re: would it be obnoxious to ask 12% off the asking price

OMG Jess, so beautiful. I hope it comes through for you!!!!

Posted 7/22/08 6:03 PM
 

Kara
Now Zagat Rated!

Member since 3/07

13217 total posts

Name:
They call me "Tater Salad"

Re: would it be obnoxious to ask 12% off the asking price

Posted by Ophelia

Posted by leighdvm

I just wanted to say that I think the house is gorgeous!!! I love the beams on the ceiling, are they original? I love old homes!!!



thank you. yes, the beams are original to the house.

it needs work, but it's so cute!!!!! and it's surrounded by horse farms Chat Icon Chat Icon



Totally beautiful - love the beams!

Posted 7/22/08 6:05 PM
 

Tabitha

Member since 2/07

2029 total posts

Name:

Re: would it be obnoxious to ask 12% off the asking price

i would def offer 12% less! and congrats on finding a gorgeous house - i hope you get it.

Posted 7/22/08 6:07 PM
 

dandr10199
Grace is growing up too fast!

Member since 10/05

11561 total posts

Name:
Dina

Re: would it be obnoxious to ask 12% off the asking price

Posted by prncss

Hell, we offered more than 12% less than the asking price on our house and it needed a TOTAL update. And guess what? We bought it at that "low ball" priceChat Icon .



Same here. We offered 25% less and got it for around 22% less than asking. We bought 3 years ago. BUT...
1) It was a fixer and they knew it
2) They had one buyer back out due to them being unable to get a mortgage
3) it was not on Long Island
4) I worked for a title company and we were pre-approved for 3X what the house was listed at, so we did not "need" this house and the sellers knew it. I promised we would close in 15-20 days and we did.
5) We put more than 5% down
6) They were paying the mortgage on the house and the new one they just bought...so they were paying two mortgages and wanted to sell fast.

The sellers were pizzed that we offered so low and they said they were offended. I did not care and I said to my RE agent "then let them counter or find another buyer who can close in 15 days." They countered with 15% less and we settled on 22%. I was shrewed about my negotiations but, I knew it was not worth what they were asking...even 3 years ago.

HTH and Good Luck!!!! Chat Icon Chat Icon Chat Icon

ETA: Jess, the house is GORGEOUS!!!!!!! Chat Icon

Message edited 7/22/2008 9:01:32 PM.

Posted 7/22/08 8:59 PM
 

Red
spring is in the air

Member since 11/05

2688 total posts

Name:
helen

Re: would it be obnoxious to ask 12% off the asking price

12% is nothing, especially in this market

Posted 7/22/08 9:02 PM
 

cindy104
This is my "Baby"

Member since 6/08

1522 total posts

Name:
Cindy

Re: would it be obnoxious to ask 12% off the asking price

I say definitely go for it. Also, if the house has only been on the market for a month....pretty much guaranteed the price will be dropping anyways!

Definitely put the offer in....the house looks great!

Good luck!

Posted 7/22/08 9:33 PM
 

cindy104
This is my "Baby"

Member since 6/08

1522 total posts

Name:
Cindy

Re: would it be obnoxious to ask 12% off the asking price

Posted by Red

12% is nothing, especially in this market



ITA

Posted 7/22/08 9:34 PM
 
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