Agent

Second-guessing the purchase offer

Home Sale Hindsight

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Editor's note: Meet Tara-Nicholle Nelson at the upcoming Real Estate Connect conference in San Francisco, which runs from Aug. 5-7, 2009. She will be available to meet with conference attendees from 12:30 p.m. to 1:30 p.m. on Thursday, Aug. 6, in the Palace Hotel's Ralston Room. Click here to send Tara-Nicholle a message. Q: I just made an offer on a bank-owned house. The bank's asking price was $125,000, and I offered $120,000. I keep kicking myself, wondering whether that offer was too high. Was it? A: I'm going to do some of my law school and philosophy professors proud, and disappoint others severely, by answering your question with a question: What do you mean by "too high"? Do you mean, "Could I have gotten it for less?" If so, that depends. Banks don't generally accept lowball offers, which your offer was not, so good on you. However, whether the bank/seller would have taken a lower offer than $120,000 depends on a couple of things, importantly a...