Am I low-balling the seller for the house I want?

I have found the house we want. It is for sale by owner. They were asking $154,000 but they lowered it to $149,900. We want them to pay $5000 in closing costs.

Their house has been on the market for 43 days. Our realtor thinks we should offer them the $154,000 so they come out with what they are asking. Is it risky to offer $149,900 and ask them to pay closing?

I wonder if our realtor has saving us money in mind or she just wants more out of it?

How will she be paid from this transaction?

She said that this would be more work for her because she would have to act on their behalf as well.
(0) | asked by: Taylor Weichbrodt | share | 3 weeks ago | Report
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answer by Fred Jordan    |   Visit My Website   |   Contact Me
I see two issues here. First is the negotiation of the house price. The house is only worth what you are willing to pay. How bad do you want the house? If you really want the house you should get close to the asking price. If you can take it or leave it then you owe it to yourself to try to get it as cheap as you reasonably can. The worst the seller can do on a low ball offer is to say no. They may counter it back at a different price then if you decide that price is too high you can counter that. This can go back and forth until you reach an agreement or one of you quits. Your Realtor should be helping you through this process and you should be listening to her advise but keeping in mind that the decision of what to do is yours. The other issue I see is maybe you do not have the right Realtor. If you do not feel she is working for your best interest then maybe it is time for a change. I assume since you are working with a For Sale By Owner that the house is not listed and you have some type of contract with your Realtor. That contract should spell out what you can expect from her and how she gets paid. My advise would be to talk with her, tell her how you feel about what is going on and ask if there is a way to resolve it. Your contract with her will dictate how you proceed. If you do not have a contract and are not happy working with her then walk away and find another Realtor. You do not want to be in this on your own. Good luck, hope it works out for you.
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answer by Jordan Strader    |   Visit My Website   |   Contact Me
Most agents are paid on the total sale price of house, offer what you feel is with in your budget.
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Richard Beckman
answer by Richard Beckman   
You Realtor is giving you good advice. Remember they work for you, that extra $5000 isn't going to make them much more. The real estate market is hot. If you offer less there is a chance someone else might get the property.
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