70 PeckslandThis was listed in July for $3,750,000 and sold yesterday for $3,002,000, or 80% of asking. That's a smart move from a realistic seller, I think. As an aside, you never know about personal taste in real estate. There's another house, right up the road, listed for $3.195 million. I saw both houses the same day and thought the second superior to the first. Of course, that day there was a $550,000 difference in the second house's favor, which would certainly have affected my judgment, but since either house could have been bought for $3,000,000 (I assume), clearly this buyer liked house number 1. As I said, there's a large element of personal taste in these matters.
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4 comments:
What happens when you fall in love with the house, but not the asking price?
Toss in an offer and see what happens. This Pecksland house never had a price reduction but the seller was obviously open to a low bid.
Can you give me an idea of the level of the offer in percentage terms? Can I try for more than 20% or will I just lose all lines of communication.
It depends, usually, on where the house is priced. If the property was either priced right to begin with (rare) or has beaten down through a series of price reductions, you'll probably lose that house. Of course, if the sheriff's at the door with a foreclosure notice, a seller might be willing to listen to any offer that will allow him to escape owing nothing. Use a good agent and talk things over with her. There are certainly houses out there that are 40% too high and even worse but most of those sellers are still clinging to their dreams and no one likes being woken from his reverie. Your agent may be able to get a sense of the seller's state of mid from his agent (we do talk to each other, you know) and determine if a low-ball offer would be premature or welcomed.
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