We are interested in a house that is tagged for $189,900. We offered $175,000, 14.9k is still a lot of savings. Of course we were expecting a counter, or at least a reply. They were supposed to respond by today, and we've had no word, no calls or anything. It is an estate sale.

We have a good plan for the property and we don't want to lose it.

Should we increase our offer or should we wait for a feedback first? Did we offer too low?

Thanks a lot.

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If the agent knows what he is doing (which I think he does) he will inform you once they get a better offer, and with that you can just increase your offer. So I say just wait for a 2-5 more days. Of course, you don't want to sound too eager to get the property, you will lose the point of your offer if you do.
If you really want that property then why did you still slashed $15,000 off the original price? That's almost 10% off!
Hmm... can you ask a friend to give a "fake offer" so you guys will know the status? I'm not saying this is a good thing, it is just an option, just if you guys are really desperate about it.
It just means that the guys you may be dealing with are unprofessional. Maybe he's a first time real estate agent? The amount involved isn't that huge anyway. With the manner they work and deal with clients, they won't get anywhere.

Tamlyn you sound like you are really good with numbers. :)

Tamlyn Brooke said:
You actually asked for a 7.8% discount. That is a bit huge. Maybe you should have just settled for 5%? But I agree that they should not at least leave you hanging. A short phone call would do.
I say just wait for a while. I am sure they will contact you soon. If you lose it, you can always get another property to buy.
7.8% isn't the huge, I met buyers who would even ask for a 20% discount, as if estates can really go on mall-type of sale. :)

Tamlyn Brooke said:
You actually asked for a 7.8% discount. That is a bit huge. Maybe you should have just settled for 5%? But I agree that they should not at least leave you hanging. A short phone call would do.
I never thought of that, won't that be "unethical"? There is no feedback up to now...

Hannah Wy said:
Hmm... can you ask a friend to give a "fake offer" so you guys will know the status? I'm not saying this is a good thing, it is just an option, just if you guys are really desperate about it.
The agent will contact you, trust me on this. Who knows, you might just get a call tomorrow saying, ok you can have the property.
I completely agree. Just think that it will be their lost should they not choose to contact you regarding the property. I don't understand why some people can easily leave you hanging and waiting.

Mary Burton said:
If the agent knows what he is doing (which I think he does) he will inform you once they get a better offer, and with that you can just increase your offer. So I say just wait for a 2-5 more days. Of course, you don't want to sound too eager to get the property, you will lose the point of your offer if you do.
This happened to me too. And it turned out that the realtor lost his phone. After a few weeks we learned that the property was already sold. :(
This is a very isolated case. I am sorry for your loss.

As to the topic, any update?

Sita Scotch said:
This happened to me too. And it turned out that the realtor lost his phone. After a few weeks we learned that the property was already sold. :(
If you are planning to live in the house getting 15k off is ok. However if you want to earn some money off of it, you'll need a much deeper discount. What's your plan for it?

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