Tried a lowball offer on an Ottawa condo and got laughed out of the room

Last Tuesday I put in an offer $80k under asking on a 1-bedroom in Sandy Hill. The listing agent called me back and said the seller wouldn't even counter, just a flat no. Learned that sellers here still think it's 2021 and won't budge on price. Anyone else hitting walls with low offers lately?

2 comments

2 Comments

park.wyatt4d ago

That "agent literally laughed at me" part really stings, I've been there. My buddy tried 70k under on a two-bedroom in Glebe last month and the seller's agent basically chuckled and said "we'll let you know if anything changes" which is code for absolutely not. I think what a lot of these sellers don't get is that the market shifted and their neighbors selling in early 2022 got lucky timing, not a new normal. Your mileage may vary but I've noticed the only ones willing to negotiate are the places that have been listed for 45+ days with price drops already.

sageburns6d ago

Tried the same thing on a townhouse in Nepean and the agent literally laughed at me too.