Real Estate Question? Thinking about buying a second home?

Question

Hi, Im wondering if a seller would take a low ball offer on a condo. Here's some background information -

2 bed, 2 bath condominium. Complex is located on Lake Huron in michigan. Newer, updated, and nice looking throughout. The condo belonged to a preist who died. (not in the condo though). Been on market for about a year or 2 now, and not a single offer. The asking price is $134,000. It was slightly higher, and they lowered it to this amount. Do you think they will accept a low ball offer. Like $99,000 considering the infromation I gave?

If you like more info, I might post pics of the place.

Thanks for advice!!

Answer 1

it hurts you zero by trying and you can't get a yes without

trying.

Answer 2

If it's been on the market for a year or two that tells you that the owners aren't in a big hurry to sell it.  You can offer them that and you probably won't even get a response.  It's an insult to someone who has owned the home.  Are they over inflating the price of the home? Absolutely!  Everyone does.  But, you can only do so much.  If the home doesn't appraise for $134,000 then no bank will ever give you loan.  So you can be sure what ever you do pay is a far price.  Offer a lower price and then wait for a counter offer.  Usually, this will give you a good idea of how low the owners are willing to go.  

Answer 3

In Virginia, I've had realtors caution against lowballing, as you don't want to offend the owner, they say.  Don't think your sellers'll be offended to have an offer!  The info you give is not enough to judge your price, tho.  Have you had a realtor telling your the comps for those condos?  99 might be too high!