Are Low-ball Offers Insulting to Sellers? How Many Low-ball Offers Before You Stop?

Reblogger Tony and Suzanne Marriott, Associate Brokers
Real Estate Agent with BVO Luxury Group @ Keller Williams Arizona Realty BR534744000 & BR540649000

Beth Atalay "Have a reality check. Are you really looking to buy a home or just feeling to see if you can find that one seller who is desperate enough to accept your low-ball offer? Are you taking advice from friends and family members who have no idea what the real estate market is like in the area you’re looking to buy? Are you looking at homes you can not afford?"

Right on target - and - re-blog!

Original content by Beth Atalay

Are Low-ball Offers Insulting to Sellers? How Many Low-ball Offers Before You Stop?

No matter what type of real estate market and the price range, every homeAre Lowball Offers Insulting to Sellers? How Many Lowball Offers Before You Stop? buyers want to get a great deal with the purchase of their home.

What is a great deal? It’s not always paying less than fair market value. If you find a home that checks off all the items on your list and priced fair, then it’s a great deal.
It could also be a great deal if it’s priced under market value!
It’s a great deal to actually find a home in a seller’s market where inventory is low with high demand. So, great deal may mean different things to different people.

If you are a home buyer in an area with low inventory, your low-ball offers is a great way to kill any future deals. If the house you’re interested in is priced well, in great condition, getting activity, why would the seller accept your low-ball offer?
There are many buyers in Clermont FL area who are not in touch with reality of the market and don’t realize the market has changed in the favor of sellers. Buyers who are working with knowledgeable Realtors know the winning strategy. Make an offer that sellers can’t refuse!

How do you know your offer is a fair one and you’re not leaving money on the table?

-Have your Realtor® check comps to see what has sold in the immediate area within the past 30/60/90 days as well as active/pending comps. In extreme seller’s market, your Realtor® may need to search as far back 12 months.

-Learn about the market conditions of the area before you present a low-ball offer. For instance, Clermont FL home prices have increased 9% over the past 12 month period. REO/Bank Owned and Short Sale listings have declined a great deal, as a matter of fact, they don’t exist in certain market segments.

-Have a reality check. Are you really looking to buy a home or just feeling to see if you can find that one seller who is desperate enough to accept your low-ball offer? Are you taking advice from friends and family members who have no idea what the real estate market is like in the area you’re looking to buy? Are you looking at homes you can not afford?

When you are getting ready to make a low-ball offer, keep in mind that sellers are also looking to walk away with some money in their pocket. Aside from that, most are still emotionally attached to their home so seeing a low-ball offer may actually insult them. Some may counter back, some may just reject the offer. Then what? If your offer is rejected, do you then go up in $5000.00 increments?
If you are a home buyer, listen to your Realtor® as they are on your side. They don’t want you to lose out on the home you want to own.

Whether you are looking to sell your Clermont FL home or looking to buy one, I would love the opportunity to work with you. I live, work and play in the area and have been for over twenty years. Call or text me at 407-929-1852, email bethatalay@gmail.com or visit www.WhereToLiveInOrlando.com

Are Low-ball Offers Insulting to Sellers? How Many Low-ball Offers Before You Stop?

 

 

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Beth Atalay, Broker/Owner

Cam Realty and Property Management

407-929-1852
Wheretoliveinorlando.com BethAtalay@Gmail.com
Your Orlando Agent - Where to Live in Orlando

 

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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

This has been an excellent choice for a reblog.

Dec 31, 2016 05:41 AM #1
Rainmaker
526,300
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

This is a good article. I do not mind receiving low-ball offers, but I sure hate making them!

Dec 31, 2016 07:23 AM #2
Rainmaker
1,383,990
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

This is a great post. Thanks for sharing and best of luck in the new year!

Dec 31, 2016 07:50 AM #3
Rainmaker
535,283
Jeff&Grace Safrin
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM

great reblog - reminding buyers of The Golden Rule helps sometimes. If the comps justify a lower offer we have no issue and provide those facts to the other REALTOR, if, not we let the buyer know and although we are required to do what the buyer asks, if this becomes a pattern, our precious  time may be better spent with others who are serious about making decisons based on data then playing a game and ignoring  professional advice :)

Dec 31, 2016 12:08 PM #4
Rainmaker
2,937,686
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Thanks Harry F. D'Elia and - thanks for stopping by with a comment!

Happy New Year!

Jan 01, 2017 04:01 AM #5
Rainmaker
2,937,686
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Same here Nathan and Angie Gesner - thanks for stopping by with a comment!

Happy New Year!

Jan 01, 2017 04:02 AM #6
Rainmaker
2,937,686
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Thanks Jeremy K. Frost - thanks for stopping by with a comment!

Happy New Year!

Jan 01, 2017 04:02 AM #7
Rainmaker
2,937,686
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Agreed Jeff&Grace Safrin - thanks for stopping by with a comment!

Happy New Year!

Jan 01, 2017 04:03 AM #8
Rainmaker
498,049
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

In a seller's market some sellers think they can name any price. If the list price is unreasonably high, then the "lowball" offer may actually be the true market value.

 

Nov 13, 2017 05:38 PM #9
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