in new mexico is it realistic to offer $169,000 on a house that is listed for $189,000 in todays maket??
las cruisese is the town... the house has 3 bed 2 bath 1400 sq. ft. sellers are relocating in 3 weeks
- 1 decade agoFavorite Answer
Sure it is realistic. I would make it $170,000 just because it sounds better. Remember, people never put the bottom line price as their selling price. Realtors expect a dance, not a take it or leave it approach so do not feel bad. The more you can justify the lower asking price, the better your chances are. If you saw any defects in the home, point that out. If you feel the value of the home is maxed out, point that out. The housing market nationwide is going down. If you have redecorating you want to do or any remodelling that you need to do so the house will better suite your lifestyle, that is an excellent reason to give for offering a lower price for the home. It doesn't offend the sellers and it shows you are interested in the home. Even if the sellers say yes, the realtor will try to get them the most money, so expect them to come back with a $180,000 offer. Stick to the $170,000 saying you have to stick to your budget and allow for remodelling costs. The fact the sellers are relocating also is a good indication they are more than ready to seal the deal. Good luck. Of course, get an inspection before you solidify anything. If you sign an earnest money contract, write in a clause about financial approval from the bank and the house passing an inspection.
- 1 decade ago
Yes, it can be. It all depends on how long the house has been on the market, how much the current owner still owes on their mortgage, and how desperate they are to sell. At the monent, the current market is what they call a "buyer's market" because there are more houses on the market currently than in the recent past and they are taking longer to sell so there is a downward pressure on prices. So if you feel that $169,000 is a fair value for the house, then you may certainly make that offer, and as a previous post said, the worst that can happen is that they say no. They may also counter offer at some price in between. If you are thinking of making an low offer and then negotiating to a in between number, do not discuss this with your realtor unless they are contractually a "buyers" realtor. Unless you have contracted with the realtor to be your realtor, the realtor will always be the "seller's" relator and will be looking out for their interest, so don't tip your hand.
- 1 decade ago
basically going in at 20,000 under asking could be a bit offensive to some sellers. i would however find out if it is a buyers market or a sellers market down there.
if it is a sellers market (meaning demand is higher than supply) then you will get told a flat out "no" and chances are that if you did come in 20K under asking the seller would be less likely to want to deal with you.
if it is a buyers market (supply exceeds demand) then 20K under asking would be a reasonable first offer and something that could be worked with.
keep in mind that if you are not in a chain (ie: your house is sold and are free to buy) then you can get away with putting in a lower offer because you can move at the sellers convenience (to some extent) if you are in a chain (ie: your house has a conditional sale) then you would have to offer higher because you will most likely be putting in a conditional offer and you have to show the seller that you are serious.Source(s): my dad owns a realestate company and has been in the business for 30 years and is teaching me the family business
- 1 decade ago
Here in New Mexico is no different than any where else. Our agency is just north of Santa Fe and over the past 30 years we've seen things happen that I thought would never happen. If your agent can justify your offer to the seller and or the seller's agent through their research anything is possible. Here in Northern New Mexico we have a saying that says "El que no llora no come" loosely translated "if you don't ask you don't get"
Best of luck
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- 1 decade ago
It is worth a try. I am in the middle of buying a house and the house was listed at 139,900 and we made an offer of 120,000 and we went back and forth until we came in the middle. I say it is worth a shot!! good luck!!
- Anonymous1 decade ago
its realistic to offer 100k. all they will do is counter offer. the only problem is that someone may offer 165k and get it.
- cknoceLv 41 decade ago
Worst case is that they say "no" and the negotiations begin.