Finding A Great Real Estate Agent

Posted on: 9 August 2018

If the neighborhood where you want to purchase your next home has a glut of unsold homes currently on the market, then you can take advantage of the buyer's market and get a great deal if you play your cards right. However, getting a low-ball offer accepted often takes some finesse, and following these tips will help you be more successful:

Tip: Carefully Consider the Things You Put in Your Purchase Offer

It is important to note that submitting a low-ball offer often insults the seller and will make them reluctant to even give you a counteroffer. And the more things you try to get in the offer, the more this will likely become a problem for you. For example, if you include personal items belonging to the seller, such as all of their kitchen and laundry room appliances, then they will look at your offer as if you are trying to get as much as possible for yourself without considering their needs. For this reason, you should avoid asking for any personal property or other things in a low-ball offer. Successful low-ball offers tend to be those asking only for the property and not putting many contingencies or excess demands in the deal.

Tip: Expect to Justify Your Low Offer Price to the Home Seller

If you want your low offer price to be seriously considered by the seller, then you need to do something to justify it. For example, if the home needs a lot of work and yet is listed at the same price as comparable properties not needing work, then you should show the seller how you came to decide on your lower price based on current market research. This strategy takes some of the emotion out of the equation and can be very successful.

Tip: Back Off and Wait to See If the House Sells to Someone Else or Lingers on the Market

Finally, if your low-ball offer is rejected, and you aren't in any hurry to move, then you are advised to sit back and wait to see if the home sells to someone else. If the property is still on the market in a month or two, you can submit another low offer and see if the seller is now ready to negotiate with you. A desperate seller will be more and more willing to negotiate as time goes by and their property lingers on the market.

To learn more about low-ball offers, talk to a real estate agent today.