Lowballing 101: How to Avoid Insulting a Home Seller when Making a Low Offer for Their House or Condo

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Real Estate Agent with United Realty Express Luxury Properties #114583
https://activerain.com/droplet/4nqL

Lowballing 101: How to Avoid Insulting a Home Seller when Making a Low Offer for Their House or Condo

Buying a home is a huge step for people who are ready to make an investment in their future. Getting a great deal on a home is just as important and knowing how much to offer could be confusing. It is important to make sure the home seller is not insulted by the lowball offer and is ready to negotiate to make sure everyone wins.

Make a List of Necessary Improvements

One of the best ways to validate a lowball offer on a home is to list improvements that need to be made to the property. If the home needs a new roof or a new heating and air conditioning system, these are reasons to offer less than the asking price. Sometimes a home may also need new flooring, paint, or matching appliances which all cost money. The buyer can make a lowball offer stating additional expenses of making sure the home is move in ready.

Explain Any Issues with the Location

Another option when considering a lowball offer is to point out problems with the location. If the home is on a busy street or close to a manufacturing district, the buyer has legitimate concerns. In the offer, list the potential problems of living too close to fast food restaurants, train tracks, or airports. A less desirable location could equal a great buy on a new home.

Provide Pricing for Comparable Homes in the Area

A knowledgeable real estate agent can help compare homes that have sold in the area. When you are writing up a lowball offer, look at the lower priced homes that have sold in the same neighborhood. A seller will quickly realize that if he wants to sell the home, he will need to accept a reasonable offer or risk letting his house sit on the market for weeks or months.

Consider the Seller's Reasons for Selling

Finally, the seller's situation can also be key in getting a good deal on a home. If the seller is desperate to sell because of a job relocation or if he has already bought a new home this can be the perfect reason to make a low offer and take the home off the seller's hands. Without insulting the seller, the buyer can make an offer for less than the asking price and agree to a quick closing.

Buying a home can be stressful and getting a good deal on the property without insulting the seller can take some negotiating. Working with me, a knowledgeable real estate agent will make the experience more enjoyable. Call me today at (781) 956-6591 or email: sheilamoylanrealtor@gmail.com to make your dreams come true.

 

 

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Ambassador
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Bill & Cyndi Daves
Hiawassee, Young Harris, Blairsville, Hayesville, Murphy and Beyond! - Hiawassee, GA
TeamDAVES - Your REALTORS In the GA/NC Mountains!

Sheila - Great information.  We walk a fine line between making a low offer to get our client's the best deal AND insulting the seller and, untimately, costing our buyer money.  

Cyndi

Sep 16, 2014 12:04 PM #1
Rainmaker
1,143,971
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

When I am buying something I know I am a tough sell so I go in upfront and let the agent know what I want and what the details need to be so there are NO surprises. I want a deal and the seller wants to sell so now it boils down to can we agree on what makes us both happy... 

Sep 16, 2014 12:04 PM #2
Rainmaker
816,602
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

If you have done your research, basically all the items you mention in your post, are you really making a lowball offer at that point? It sounds like you are just justifying a reasonable offer to me. A lowball offer to me is making an offer for considerably less than what the value of the home should be.

Sep 16, 2014 02:30 PM #3
Rainmaker
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Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

In 2017 it is now a seller's market. However, some sellers price their homes irrationally too high. Therefore, a seeming lowball offer may actually be a market value offer.

Nov 18, 2017 08:17 AM #4
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Sheila Moylan, REALTOR®

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