I ticked off a seller with a low ball offer...

[Tiffany Hayden]

I am looking to purchase a house to live in. I found a house that I really like, but my realtor says they are asking too much. The house is listed at $128k. My realtor says that there haven't been any houses in that area that have sold for over $100k in the past year. This house is bigger than most in the neighborhood and has a very large lot. Most of the homes that have sold in the area have been short sales and foreclosures.

Anyway, we put in an offer for $95k and asked the seller to pay closing costs (I'm getting an fha loan and I'm allowed to request up to 6% in seller concessions). The sellers rejected the offer and aren't interested in countering.

I'm pretty sure they are ticked. Should I wait awhile before making another offer? Assuming the house actually appraises for enough, I am willing to pay up to their asking price, provided they pay for all of the closing costs.

Any thoughts?

[Mark Anderson]

In this case, I wouldn't be concerned one bit that you may have ticked off the seller? First, you are just assuming you did. Second, if your numbers are right and the house really is overpriced, that is their problem. Don't make it your problem.

One key piece of info you left out of your post was how many days has the house been on the market. If it just hit the market, the seller probably thinks they can get what they are asking for. But if its been on the market for several months, sellers usually start to lower the asking price or will become more negotiable.

Yes, wait a while before making another offer.