Forum Archive

First-time buyer here. I’m interested in a property that I believe is extremely overpriced by at least $800K. Without getting too much into it, it’s basically a shell, but it’s being sold at a move-in condition price, taking into account comparables recently listed on the same street. Is it better to make an offer at substantially less, say $600K less, with an “explanation” for my offer (and risk offending seller and maybe eliminating myself from future offers), or should I wait it out and see if the price decreases?