I left this blog open in a tab on my computer for 2 days debating publishing it to my Facebook- I decided against it since it may offend one of my current clients and that is not my intention. but I am re-blogging it so I can publish it to Facebook later;)
Low-ball offers are nothing new in real estate. Buyers and sellers have probably done this dance since the dawn of time.
As a buyer in 2015, you need to be aware of some things that you are communicating to the seller with your low-ball offer:
1. I'm a first time buyer and I don't know what I'm doing.
2. I wanted to buy a house in 2009 but I didn't have any money then. I'm hoping that you are as desperate now as you were then.
3. I don't have enough money or credit to buy your house anywhere CLOSE TO THE ASKING PRICE. Even if we reach an agreement, I still may not be able to close.
4. I am not listening to the advice of my buyer's agent. This won't be the last time either, wait until you get a look at my Repair Amendment!
5. I've made MANY MANY OFFERS on other homes that I cannot afford in search of someone willing to MAKE MY DREAMS COME TRUE.
The 2015 Cobb County real estate market requires that BUYERS PUT THEIR BEST FOOT FORWARD in the initial offer. It is paramount if you are serious about buying a home in nearly any price range.
Cobb County homeowners are pricing their properties competitively and are receiving multiple offers in a very short amount of time that lead to closed sales within 95-98% of their asking price.
While the LOW BALL BUYER is busily crafting numerous counter offers, another SERIOUS BUYER often swoops in with a great offer, close to asking price, clear of special stipulations, a short due diligence period and a respectable earnest money deposit.