What is an Acceptable Low Offer on a House?

What is an Acceptable Low Offer on a House? – Question from Skylar in MA: Hi Brian, I’m feeling lucky because the real estate agent that I talked to today says that home prices in the Springfield, Massachusetts area have gone down a little compared to last year. This is happening at the same time my loan application was pre-approved. I’m not happy about the interest rate but I am feeling a lot more confident about being able to buy a house than I was a month ago. In fact, after learning house prices have gotten a little lower, I’m rethinking my strategy. With everything that I’ve read, I thought I’d be heading into multiple bidding wars and have to pay above the asking price. Now, I’m thinking that when I find a house that I want, I should make an offer below the asking price. This is an entirely new thought for me. How low of an offer do think might be acceptable? The houses that I’m looking at are listed slightly above $200K.

Answer: Hello Skylar. There is not a universal or even general answer to your question about how low of an offer is likely to be accepted. This type of situation depends on what is happening in your local area. I suggest you have a detailed conversation with your agent including asking for assistance determining what a reasonable first offer should be (after you find a house that you want to buy). What I can do is give you some general thoughts about the subject of purchase offers below the asking price. This should help you have a more productive and informative conversation with your agent.

Skylar, it does sound like you understand that your local market might be shifting from a seller’s market towards a buyer’s market as indicated by falling house prices.

Learn More…

7¢ Skip Tracing – Guaranteed lowest price on the market for the best quality data.

Don’t just take our word for it. Try us out by running a small list first to see the tier 1 data for yourself!

🔥Pay wholesale price for quality data

🔥Receive the TOP 3 Phone Numbers

🔥Discover which phone numbers are best

🔥Learn the BEST Time to reach a contact

🔥We can take your old list, grade it and come up with the

🔥BEST NUMBERS to contact

🔥Develop a SNIPER MARKETING Plan

🔥Increase ROI and TEAM MORALE

Get Started

We have current deals and promotions you can’t miss! Limited time so act now!

Have Questions? Reach out to us, we’re here to help.

Call us at: 866-962-8190

About Skip Force LLC.: Skip Force is a SaaS company based in Austin, TX. Founded in August of 2019, Skip Force has developed solutions, for real estate investors and resellers, to streamline the skip tracing process to effectively close leads.

Related News

Why REITs Make For A Good Investment
Why REITs Make For A Good Investment

Why REITs Make For A Good Investment Why REITs Make For A Good Investment – It’s not enough for us to simply scrimp on expenses, especially when the prices of the goods and commodities we buy continue to increase. It’s not enough for us to save. We stretch the muscles of our money. Make them […]

Why Real Estate Beats All Other Investment Avenues
Why Real Estate Beats All Other Investment Avenues

Why Real Estate Beats All Other Investment Avenues   Why Real Estate Beats All Other Investment Avenues – Real Estate is among the major asset classes available to investors. It offers significant advantages compared to other investment avenues such as stocks, bonds, cryptocurrencies, and securities. It’s also considered a comparatively safer investment as it is […]

An Essential Guide to Investing
An Essential Guide to Investing in Logistics Real Estate

An Essential Guide to Investing in Logistics Real Estate An Essential Guide to Investing in Logistics Real Estate – Delivering items purchased from online retailers and supermarkets, logistics companies serve the world’s growing population. As a result, this is a growing investment area that provides investors with high payouts and prospects for capital growth during […]