Tips for a Successful Lowball Offer on a Home

Whether the home is overpriced or you just want to see how low they will go, offering a low-ball offer is one way to get a fabulous gem on the real estate market. You are welcome to offer a seller whatever you want, but that doesn't always mean that they will accept your offer. In fact, some may be upset that you don't think their properly is valued at more than what you do. If you're in love with the house, the last thing you want to do is make the owners feel their home is anything but great, or they may not be willing to deal with you at all. Here are some tips to help you low-ball that offer with style.


Looking for Homes for sale, Follow these points:

Know The Market

There are many reasons why you might want to offer a price lower than what the seller's have listed it for. The number one reason is that people overprice their homes in an attempt to have some wiggle room when it comes to negotiations. Look at other comps in the area and see if they are priced right. If they are too high, then offer them a number that is fair when comparing it to the other area homes. The likelihood of a low ball offer being accepted is slim if the buyers are priced well for their market.

Consider Many Factors

Before putting that offer in writing put the whole deal in perspective. Is the home in good repair? Does it need a new roof or an HVAC system? How long has the home been on the market? All of these factors can play into the likelihood of your offer being accepted. If the home needs a great deal of work or if it has sat on the market for a long time; sellers are usually more willing to lower their price to get a sale. A realtor can tell you if there has been any other activity and how motivated the sellers are to move the home. Also, an agent may know the mortgage payoff and if your offer has a shot of being declined or approved. No matter how much a seller wants to sell, they have to, at least, get the payoff on the home.

Don't Insult Your Sellers

Finally, the worst thing you can do is insult your sellers. If you come in with an offer that is more than 25 percent below their listing price, you will probably get a rejection with no counter offer. They seller holds the cards and it's your
job to find out how low they can go on the price, without being offensive. Given the right circumstances, a low-ball offer can be accepted, and you can have a wonderful home at a great price.

Author:  April Lavine is the current Managing Broker of Irvine Residential Living and she has the complete knowledge of homes for sale in Irvine.