Looking to buy a newly built home. The home I'm interested in has been on the market for 100+ days. The builder listed it for $550k and now it's at $535k. Will they laugh in my face if I offer $500k?

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If you get the house, I highly recommend refusing to close until *all* work you can’t live with is done. We closed on a new-build, but a couple minor things weren’t finished. We made the choice that since it was minor stuff, we’d rather close and move in than push back our close date. Turns out we should have waited. It was like pulling teeth getting them to even talk to us on the phone, let alone come over and do the finishing touches. Once you sign on the line, there’s no incentive for them to do anything else, unless you intend to spend the money to get a lawyer involved. Lesson learned.

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The cost of holding inventory is incredibly high. I would go in at $475k and see what they come back with. If it’s $500 or lower, you’ll be very happy.

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Shoot your shot. What do you have to lose?

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Worst they’ll do is counter offer for something higher

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Give an even lower offer than 500k and see what they say.

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I’m with P1. Go low. Especially if it’s the builder, A) they won’t laugh (to your face) and B) they are generally quite interested in moving inventory. Go for it

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Go for 500 or lower... They will definitely counter
It's your money and nobody will laugh at your offer
The value of a home is what the market is willing to pay and NOT what the current owner thinks it is

likesmart

Sounds like you should offer $465k. What are the neighborhood comps?

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Depends on your realtor. We lowballed by almost 100k and they came back exactly in the middle which was what we wanted to pay. Our realtor was really good at negotiating. Found him after firing our first one who was a little too inexperienced.

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Lowballing doesnt work in real estate, youll piss off the seller and will be done. But 500K on a place that was 550 now is 535 is probably reasonable enough theyll counter.

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EY2 has an unusual position. Have definitely lowballed before very successfully. Builder usually wants to get rid of straggling units as well.

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Ey2 is right for existing homes. New construction, different ballgame. Everyone else is right. Bid LOW

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Working with a realtor but I'd like others input

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I’d come in at 480. Let them bid you up to 500

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If it's a big builder they just want to move it, profit margin is close to 30 % go with 450k with your ceiling at 500

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A3, north Denver suburbs
C3, about 3000 square feet

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Lowball for sure. You don't mention if it's been built or not. If it has been built - you can rationalize that the 'upgrades' they are charging you for aren't what you want but the lot is. Conversely, if it hasn't been built, and they wont come down entirely on price, you can usually negotiate free 'upgrades' that you will enjoy later.

100 DOM is not abnormal but also a good point to start getting concessions.

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Bid low for suuuuure

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Just looked at some comps. Same model sold for $519k a week ago.

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You can put an offer of $485k. If the seller doesn't accept he will counter offer

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