Vansanity at vancouvercondo.info 2 Jun 2010 3:46 pm -
“Overheard a conversation at lunch. Buyer of a home “lowballing”. Here’s the figures: Home for sale $830,000 reduced recently to $790,000 offer given – $710,000. The buyer doesn’t think they’ll get it for that but figures for $750,000 might get it done. If so, that’s a 10% drop from the initial asking price. Timberrrrrr!”
… except we don’t know if they had their offer accepted, or why they thought “750 might get it done”.
Perhaps it sells to another offer for 810? Who knows?
Sure.
At the same time, 710 isn’t really lowballing.
600 would be a lowball offer.
Lots of price reductions coming through on MLS, some over 10%.
Went to a few open houses downtown last weekend. This one condo was asking for $900k, at least $200k more than other comparables. Oddly enough, the owner was there with the agent and heard this comment. Owner tells us that it doesn’t matter if it is overpriced as long as he finds the one buyer that doesn’t think so.
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