So you found the house and are ready to move forward with an offer when you look to your agent and say “I think we should low-ball them!”
My response is usually something like:
“I understand wanting to get a deal, but If the purchase price you plan to offer is so blatantly low that even you know the seller will reject it and/or possibly not even counter offer as a result of being offended, then what are you going to accomplish with a low-ball offer?!”
Please don’t get my wrong, I am all for trying to negotiate the lowest purchase price possible for all of my clients, however, in almost all cases (even the most desperate of sellers, bank foreclosures, etc) need a realistic sales figure to close the transaction!
A “low-ball” offer in almost all cases does nothing but open up the bidding by putting a bad taste in the mouth of the seller, which is a ‘first impression’ of the purchaser that often lasts throughout the duration of the entire purchase/sale process (if it even comes to fruition!).
We all want to get the best deal possible, but speak with a qualified real estate sales representative who has an entire arsenal of techniques to get the purchase price down for you! Truthfully – in my experience, the best (a.k.a – lowest) purchase prices I’ve helped my clients obtain were achieved by submitting a very reasonable first offer that made the seller anxious about the possibility of losing great buyers if he/she doesn’t show some flexibility!
We can get that price down, but let’s be logical about how we do it!
