After doing Many open houses in a home that Is located on the golf course on the west side of Desert Hot Springs (near Palm Springs), A couple from Canada came in and really liked the home as they were deciding where to put there furniture and enjoying the views. The reason I mention they were from Canada is that we get many buyers from Canada and refer to them as snow birds. Thankfully they are buying here and helping the Coachella Valley real estate market.
The last three escrows we had were our friends from Canada and they were great to work with as they usually pay cash! now I am not sure If a book was written on make sure you really low-ball the sellers, but that is what is happening right now. So after educating these buyers with the latest comps and also the recent builder comps ( New Community ) they decided to go in $100,000 below asking price. Jeeze the asking price was very fair! but I thought lets submit who knows. When buyers low ball like this from what I see it just offends the sellers and makes it very hard to get both parties to communicate without resentment.
I think that if buyers come in with an offer that is low but fair the sellers will usually be more willing to listen and in most cases the buyer if all terms and price are agreed on, will get a better price from the sellers rather than making them angry and resentful and less likely to act with reason rather then anger. I guess my point is that when making an offer go ahead and low ball but sometimes offering a little more will help the seller be more reasponsive and want the buyer to have the home! they might even come down off the price that they thought would be there bottom line.
So this one didn't work out If they came in $75,000 instead of a flat $100,000 on a home that is priced $399,000 I think the sellers would have been more reseptive. Yeah some of this is my fault I guess but I will open the home again sit in the sun and enjoy the fairway views. One thing that I know from experience is that Offers bring other offers .