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You’ve fallen in love with a house out of your price range. Do you walk away or make
a low-ball bid? I’m Ilyce Glink with today’s Real Estate
Minute. A low-ball bid can be described in several
ways. First, it’s usually more than 10-percent below the asking price of the house. Second,
sellers usually find them insulting which means the seller’s broker has to plead with
them to reconsider. And third – it gives a decidedly negative cast to the negotiations.
If you can get past those deterrents, you may have a shot. But you have to prove your
bid is worthy. For example, if you offer 80-thousand dollars for a home priced at 100-thousand,
you have to show comps on other neighborhood homes that recently sold for 75-thousand to
get the seller to bite. However, if you offer 50-thousand on a 100-thousand home, the sellers
have every right to be offended. You can make whatever bid you want – just
be prepared to be ignored if it’s too low. I’m Ilyce Glink, for more details and links
visit my website, ThinkGlink.com, where we’re rebuilding America, one house at a time.