What’s to low when making an offer

[Maria Luna]

Hope everybody is having a good Monday, Question, what is to low when submitting an offer? I found this foreclosure property for$73k. It needs a lot of work, so I told the agent that I wanted to submit an offer for 50k. He immediately got attitude and said that’s way to low and I don’t think that they are going to accept it. I said well we are never going to know unless we make the offer. I really didn’t like he’s attitude at all from the beginning. But would like to know your guys opinions on if I’m offering to low.

[Gabriel Amedee]

I don’t think there’s an offer too low as long as it is an educated offer.

If my clients offer price is the highest price where they can achieve let’s say $100/door in a market where that is attainable, then it is an educated offer. As long as they can justify how they came to such an offer I won’t think twice about writing it up. If they have no justification for their offer then I would attempt to educate them but if that doesn’t get through then I personally wouldn’t work with the client.

If you just met this realtor I would personally pass but at most you can break down your analysis and see their response toward it. That will show you whether they are a true buyers representative or just looking for a quick close.

Hope my outlook provides some insight !