Ever offer way below asking price?

[David Hanor]

Looking at a property listed in the $180k range that might rent for $1400 (it was listed for $1200 earlier this year). It's been a rental the past 12 years--is it insulting to offer $140-150k? It's been on the market in a hot area for a month now. Is there a good way to offer without being insulting or just send an offer assuming the owner knows they are overpriced? (in this market people are paying way more than they should for primary homes so there is some merit to the list price)

[Thomas S.]

If a seller is not a relative or a friend why care what they think. You offer what it is worth to you.

Your biggest problem will be your real estate agent. They often place a higher value on their reputation within their agent community and will strongly advise against making a low ball offer. If you can convince them to make the offer you can not trust they will present your offer to their agent counterpart with a straight face.