So I fouythis house in interested in, but it's over .y budget. I'm trying to stay around 240-250k, this house is 280k, but, it's been sitting for 191 days on the market. My realtor says it's "under guardianship", so I did some research, sounds like either the owner is a minor, or incompasitated and needs guardian to sell it on their behalf. Said it's all done before a judge, so takes a lot longer to settle. I'm about to list my house next week, I'm not minding if it takes longer to sell, but my question was, what's the possibility of going under asking in this scenario? We've lost out on about 20 homes now, been trying to get one for over a year now. One house, I wanted to go in under asking, realtor deterred us from doing it, so we did no offer, then a few months later, we see the house is now under foreclosure, and we couldn't get it in that case, cause we have a contingency. I feel like, we should have at least offered, they could have turned us down, but who knows. So I wanted to see about what would happen in this case
House under guardianship….. possible to go under asking?
byu/frankenboobehs inRealEstate
Posted by frankenboobehs
7 Comments
if it’s a guardianship which requires a judge to approve the sale, then you’re going to have to show market value is your offer to have a chance.
dude after 191 days on the market they’re probably getting desperate, even with the whole guardianship thing. your realtor might be playing it too safe – like that foreclosure situation where you didn’t even try
guardianship cases can drag on forever and the guardian usually just wants to get it sold without dealing with months more of carrying costs. worst case they counter at like 260-270 which is still better than the original ask. i’d throw out 245-250 and see what happens, especially since you’re cool with the longer timeline
Nobody can say without knowing the price relative to comps, how your local market is in general, how much of a hassle the purchase process may be compared to typical transaction and how that reduces demand from other buyers.
Make an offer you’re comfortable with and see…
You can offer under ask, but guardianship sales are usually judged against market value, not seller fatigue. The number that matters is how your offer compares to recent comps the court can defend. If this home has been sitting 191 days, write the offer you can live with, include clean terms, and be prepared for a slower timeline and a likely counter.
You can absolutely go under ask, but guardianship sales usually live or die on whether the number is defensible against comps in court. I had a buyer in a similar probate-ish situation in Austin where the listing sat forever, and the low offer got attention only after we cleaned up terms and showed why the price matched recent sales. Write the number you can live with, keep terms clean, and expect slow motion plus a counter.
Make an offer, all they can say is yes, no or counteroffer. We low balled our current house against our realtors protest. They accepted because they wanted to move. Saved us $35k, seller said they would have taken less because they had not had any offers in 4 months.
Always make your offer. I often rep guardians and receivers. They have many considerations and top price may not be the top consideration. Mostly, your lender must be willing to await court approvals, or you must accept the risk of waiting so long you could lose your rate, or you lose your existing living arrangement. And nobody is going to make repairs before settlement.
But if you are patient, you may acquire a great deal.