How To Deal With a Low Ball Home Offer
Keep the low ball home offer in your corner pocket.
There is nothing wrong with getting a deal when wanting to purchase something. In fact many business are set up where negotiating on price is part of the process. Depending on the establishment, some may even have fun with a lowball offer by pretending to be insulted, when in reality they are not. The establishment owner is not insulted because by making any offer the buyer shows interest in making a purchase. So the store owner just merely haggles the buyer up to a level that is satisfying to them and the buyer. Where it often does not work out as well is when a low ball home offer is made to a seller who may have put a lot of blood, sweat and tears into their home over time.
Homes for many sellers are places where they have invested a lot of money to maintain and upgrade, and where they have a lot of emotions involved as well since they and their family have spent plenty of time there. So when a buyer comes along and makes a low ball home offer on their the seller feels insulted and get upset at the offer. Negotiations either do not happen after the low ball home offer has been made or the seller refuses to budge off of their listing price for that particular person who made the low ball home offer. The seller may even be willing to accept less than the listing price to another buyer but not to the low ball offeror due to hard feelings. It becomes a no win situation for both the buyer and the seller.
Guidance for the Seller
All sellers should be aware that there are buyers out there will make a low ball home offer no matter what the real estate agent advises them. The best approach is not to get...