It's no secret that lowball offers are on the rise, but are they getting accepted, and if so, WHERE?
I've been getting some really low ones lately, which isn't the norm for my market. The surprising thing is that I'm hearing some are being accepted!
This Blows My Mind!
I just had an offer for 15% below the asking price. The buyer's agent told me that her buyer has had several of his lowballs accepted. I asked for names and addresses of these so called lowball sales, and confirmed that this lady was not off her rocker. I was floored.
Is it happening to your sellers? I know they are getting the low offers, but are they accepting 10% below asking? 15% below? 20% below? Even more than that?
I know short sales attract the low ones. We haven't had too many of those in Cary, NC. In fact, they are rare here. In other areas, I'm wondering if sellers are accepting lowballs and if lenders are approving the short sales on .70c on the dollar or even lower. And if so, is that because the true market value is 30% lower, or is it because the buyers are getting REALLY good deals?