Offer 25K below the listing price?

[Bryan Doan]

Hi,

I'm interested in a listing in Lynnwood -- the house has been on the market for 50 days and thru two inspection failures (went pending inspections & then reslisted shortly after that each  time).  It's originally listed for 500K and then lowered it down to 475K.  I'm thinking of making an offer at 450K but not sure if that would work or if I would offend the listing agent :). Does anybody have any experience with this or if you have any advice on how I should go about it.

BTW, the house definitely needs some work but in a good location.

Any advice would be greatly appreciated!

Thanks!

-Bryan

[Owen Dashner]

@Bryan Doan, what's your plan with the property if you bought it? Flip? Keep? If your plan involves buying and selling it, make your offer based off of the ARV minus your costs and desired profit. That's it. They could be way overpriced at $475K - who cares what they are asking for it. Make your offer based on what the numbers and comps tell you, NOT THE LIST PRICE!