I need to buy a house now, and don’t want to get ripped off. I’ve been putting in offers at 20% below asking, but not getting any acceptances yet. Does anyone have any other suggestions?

That sounds like a good idea. But I would think that you should look beyond realtors. Drive around and look for people selling the houses by themselves. If you’re offering 20% below, then if you cut the realtors 5-8%, then you’d be closer to an amount that would be good for the both of you.

Thanks. Did some research, and found a site. www.forsalebyowner.com. It’s just what you said, but I don’t have to go driving around. I’m confident that I’ll get something here. Thanks for your 2 cents.

No problem. I don’t think that I did anything. I never even knew that there were sites like this. I’ll check it out myself.

20% is too high-even though it's a buyers market-research is the key. Using a REALTOR affords you the opportunity to have them do the leg work. As a realtor I spend countless hours looking a listings, sales and tax rolls to find the best deals. I've just built my website-take a look !http://www.realtorwebagent.com
If I can be of any help let me know. Good luck.
Thanks

Lynn

Thanks for the info.

You need to do some research on the market values of property in the area where you wish to buy. You can't just cut the asking price 20% and expect to get an offer accepted. In many areas, houses sell for MORE than the asking price. Personally, if someone offered me 20% below asking price on a property i was selling, I'd consider it an insult. Lowballing won't often get you the property you want; you have to make a fair offer.

I agree with r8rpwr - offering a fair price is key. Yes, many times owners will accept a lower price for their property, but they aren't going to accept something that's obviously lowballed. I know if I were offered 20% less than my asking price, I would just hold the property until a better offer came along - carrying costs and all.

If you really need to buy a house NOW, make a fair offer (based on research about current home values) and I can't imagine you won't find an offer accepted someplace.