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If you've tried to sell a house

Anonymous
Posted by Anonymous
  • 50 Replies
There is a house that I really want. It's almost 20,000 over what we are preapproved for. Would I be crazy to make an offer for a little under our ore approval?
Posted by Anonymous on Feb. 27, 2015 at 7:59 AM
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Replies (1-10):
mamalynnsmith
by on Feb. 27, 2015 at 8:06 AM
go lower, they might take the offer say they want 200000 and you offer 160000 that leaves room for them to counter your offer and then you can counter back .make sure you know how much houses are going for in the area you are looking to buy in .
always go lower then the original price.
Krystle1216
by Gold Member on Feb. 27, 2015 at 8:10 AM
You usually start lower than their asking price 20,000 could be a lot it all depends on what the house is actually worth and have comps pulled for the area. But also know that there is a chance they won't go for it so don't get your heart to set. Good luck.
imthatgirl0607
by Emerald Member on Feb. 27, 2015 at 8:12 AM

What was the house appraised at and how long has it been on the market?

Miller0305
by Platinum Member on Feb. 27, 2015 at 8:15 AM
How much is the house listed for? $20,000 under on a $500,000 house is common but $20,000 under on a $100,000 house is low balling it
Anonymous
by Anonymous 2 on Feb. 27, 2015 at 8:16 AM
It depends on what the percentage differential is. $130,000 is too low for a $150,000 asking price but $1,480,000 isn't much lower than $1,500,000.
Anonymous
by Anonymous 2 on Feb. 27, 2015 at 8:20 AM
1 mom liked this
Also I wouldn't buy a house at the top of my preapproval limit. I can't imagine playing what the bank says we can afford to pay. We're much more conservative than that so we can pay the house off sooner.
poietes
by Laura on Feb. 27, 2015 at 8:26 AM
Depending on the price I'm guessing 20,000 less is way to low.
LilysMama719
by Emmy on Feb. 27, 2015 at 8:34 AM
How much is the listing price and how long has it been on the market?
Anonymous
by Anonymous 3 on Feb. 27, 2015 at 8:44 AM
This is so very true. I remember when DH and I were buying our first house and the shock when they told us what we were approved for. Seriously, with a payment like that, we'd be lucky if we had enough leftover to go out to dinner and a movie once a month. It was an even worse scenario when we bought our second and third homes.

Quoting Anonymous 2: Also I wouldn't buy a house at the top of my preapproval limit. I can't imagine playing what the bank says we can afford to pay. We're much more conservative than that so we can pay the house off sooner.
svolkov
by on Feb. 27, 2015 at 8:45 AM
This. Also how long has it been on the market?

Quoting Miller0305: How much is the house listed for? $20,000 under on a $500,000 house is common but $20,000 under on a $100,000 house is low balling it
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