Special offer

THINKING OF MAKING A LOWBALL OFFER FOR A HOME?

By
Real Estate Agent with One Sothebys International Realty

There is so much information available today on properties; it's easy for homebuyers to look up a property they like on tax records to learn what the present homeowner paid for it & how long they've lived in the place. Using that information, they then determine what they consider to be a 'fair price' for the place. This strategy ignores present market conditions, which is what dictates market value.

If the home is fairly priced, going in with a lowball offer (defined as 10% or more below the list price) may result in an offer rejection, especially if the property is a fresh listing & generating a lot of buyer interest.

A lowball offer is more likely to be successful if the property has lingered on the market for several weeks or months and/or there is seller urgency to sell (i.e. divorce, estate or foreclosure situations) that could compel a seller to accept the lowball offer. Timing is everything in this business.

Homebuyers who truly want the property, however, won't risk an offer rejection and/or alienating the seller by submitting a lowball offer. DM or contact me with any questions about homebuying or selling in South Florida. ūüėä

 

Posted by

 Your blingual residential real estate guide. Certified Probate Real Estate Specialist (CPRES) and Certified Distressed Property Expert (CDPE).  Serving Pembroke Pines, Fl.  and surrounding communities.   


Dalia Kibby, PA
  Direct 954-610-7864| email me
website www.daliasellshomes.com | search for homes

 

If you are Buying, Selling or Relocating to the South FLorida area and need help from a professional REALTOR¬ģ, I would be happy to assist you! I also work with¬† estate Executers, Personal Representatives and Administrators . ¬† ¬† Please visit my website for property searches, to sign up for free listing alerts and other information.¬† ¬†

 

Comments (6)

Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Dalia,

Excellent post on low ball offers. You always have a better chance of negotiation with a seller that has been on the market longer and reduced their price several times.

May 22, 2023 06:12 AM
DALIA KIBBY
One Sothebys International Realty - Cooper City, FL
Selling Florida Homes with Passion!

So right! Thanks for commenting!

May 22, 2023 07:28 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

DALIA KIBBY we are still in a strong Sellers Market here in CT, so a lowball offer would not be a wise thing to do here.

May 22, 2023 08:08 AM
DALIA KIBBY
One Sothebys International Realty - Cooper City, FL
Selling Florida Homes with Passion!

Agree! In South Florida, a lowball offer is tantamount is saying 'this isn't a serious offer'. Thanks for commenting.

May 22, 2023 08:32 AM
Richard Weeks
Dallas, TX
REALTOR¬ģ, Broker
Great information, thanks for sharing.  I hope you have a great day.
May 23, 2023 02:37 AM
Kristin Johnston - REALTOR¬ģ
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Jun 28, 2023 07:01 AM