What is strategy behind a lowball verbal offer?
Realtor verbally presented as follows "We know the house is worth a lot more than our offer but the couple loves the house and can only afford "x". They offered x-25K.
I did not counter but did lower my asking price by 10% or 25K. We are still 50K apart.
The couple has been looking at houses beyond what they qualify for and at the open house the wife's father told me he was motivated to get the couple and their kids out of his house.
Comments anyone on whether I played this wrong by not countering. Thank you for your time.