Has anyone had a seller accept an offer 50K less than asking price?

We really want this house but feel it is too high given the work it needs (not to mention we can't afford it). Is making an offer 50K less even worth it, or is it just an embarrassing insulting wast of time?

Re: Has anyone had a seller accept an offer 50K less than asking price?

go for it. if they do not find the offer attractive, they will most likely counter offer.

speak w/ your realtor and ask for their advise. i am sure that the price is overflated, but he/she will have a better idea in re: how much.

ETA: we were very close to making an offer on a house and was going to bid 69k below the asking price. we decided not to because the home did require some updating and we knew we weren't going to stay in the house for more then 5 years due to the SD and the taxes (over 14k)

Re: Has anyone had a seller accept an offer 50K less than asking price?

My friend just bid $50K lower and they counteroffered... she got the house for $30K under.

Re: Has anyone had a seller accept an offer 50K less than asking price?

I just put in an offer $50K lower the sellers didn't accept and didn't counter...

I refuse to over pay! Especially since they bought this house less than 1 year ago and are asking $100K OVER what they paid for it. I know houses went up - but give me a break

Re: Has anyone had a seller accept an offer 50K less than asking price?

It doesn't hurt to ask. I know my house they orignally started with an asking price of I think 70k more than what we paid for. They eventually had to lower their price and we lowered it even more, saying the house is in bad shape.

Re: Has anyone had a seller accept an offer 50K less than asking price?

It also has to do with how much the asking price is. My aunt and uncle bought a house for over a million--they offered much less than asking (over $100,000 less than asking), but percentage-wise it was relatively little). If you are talking a $300,000 house, well, 50K is a lot less, but maybe you can meet in the middle at 25K.

Re: Has anyone had a seller accept an offer 50K less than asking price?

Would you be willing to pay more? We bid $40k less and ended-ep paying $20k less. I say go for it if you like the house. If they counter-offer, then you can decide if you want to pay more. Good luck!

Re: Has anyone had a seller accept an offer 50K less than asking price?

Absolutely!!!!

A few years ago, or maybe it was last year...a waterfront home in Old Field sold for $1,000,000 LESS THAN ASKING PRICE!

Re: Has anyone had a seller accept an offer 50K less than asking price?

I bid less than 50K from asking price because I felt the house was over priced and told my agent why I was giving such a price - comparables, new roof and windows, etc. She told me they would never accept such an offer but after negotiating we wound up getting probably close to 40K less. So I say yes - but for us we went in prepared that they won't accept the bid but this is what we felt the house was worth so if it is meant to be, it's meant to be - sure enough it worked for us.

Re: Has anyone had a seller accept an offer 50K less than asking price?

We bid $65k less than asking and at first did not hear back from the seller (it was a FSBO). But after her original buyer fell through she came back to us to see if we were still interested. I think she accepted b/c she was carrying two mortgages, we had nothing to sell and could close quickly and b/c she didn't want to start the wholoe process over again.

We felt funny at first too, bidding so low, but i basically told her we loved the house but given the fact that we wouldl have to do this and that to it, we were willing to bid XX. My DH and i sat down after seeing it and came up with a number we would be willing to pay. Thats what we offered.

so what I'm trying to say is that it can't hurt to try.