Re: Lowball Offer on House
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Just an update. Made an offer on the $269,500 house. Things actually going as I pessimistically expected. I offered $230,000. He countered at $265,000 (from the original $269,500). My thinking at this point is this: if I counter only $5000 higher, he is going to think I am just trying to slowly meet in the middle and not be willing to play ball. So I am thinking of countering at $237,500 or $240,000 to make him think I am going to come way up. Then I put the brakes on and re-counter in the $245,000 range. Then I top out around $250,000. BTW, he said he has an independent appraisal of the house that he provided with his $265,000 counter that says the house is worth $275,000. What do you guys think?
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Ask him if the independent appraisal took into considerdation that the real estate market is crashing? Tell him you are willing to wait, when he is ready to deal for 230k he should give you a call.
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