In Real Estate, a low-ball offer is an offer that is far below the price of a home should be in that particular area.
I have received low-ball offers on my listings, and I represent buyers who make lowball offers on other agent’s listings. Therefore, I have sat in both sides of the seats and have had some successful transactions.
My Bridgewater homebuyers are looking for a bargain, home sellers are looking for a quick sale and should consider every offer no matter how low, and homebuilders and banks are selling homes at reduced prices.
I have notice here in Bridgewater, Bedminster, and Branchburg; the conditions have sparked a wave of low-ball offers to buy homes. This is not only in Central New Jersey but also in the U.S. housing markets.
Now, the key to making a hardline low-ball offer on a home is to start by finding properties that have lingered on the market for a long time. The softer the market, the more likely the strategy will work.
To some, a low-ball offer may be undesirable; however, it could be an opportunity to open a discussion with a buyer who may give the sellers what they want. A seller, who has a bad reaction to a low offer, may lose a good buyer. Some sellers respond to a lowball offer with a counteroffer which I always recommend.
Some REALTORS caution buyers against making an offer that is so low it could offend the seller and stop the negotiation process. That is ridiculous! If the seller does not have multiple offers, it often does not hurt to go in low.
It helps to have a REALTOR that has comprehensive knowledge of the local market, like Central New Jersey so that they can provide the best comparative market analysis that will identify the key trends for that particular neighborhood.
The bottom line on low-ball offers is that each real estate transaction, like each house, is unique. That means buyers and sellers needs representation by a skilled Real Estate Agent who can distinguish the strengths and weaknesses of both negotiating positions.
If you are looking for a skilled agent, you need not look any further. I am right here! Email me @ firstname.lastname@example.org or call me (908)930-2408