Why Make a Low Ball Offer
Why make a lowball offer
Lowball offers are not so common in the real estate market place and have always found to be rejected outright, till a few years back. Of late, some such offers are indeed finding favorable responses and it seems like the attitude towards such offers are certainly changing. A Lowball offers is an offer for a property which is much lower than what the seller is expecting and if presented correctly, can still be successful. As and when you do make a lowball offer, there should be enough reasons that justify your quote and you should not be making the quote, only to save money, though that is a prime reason always.
Some very common reasons that prompt anybody to make lowball offers are listed below. One of the most important reasons for a lowball offer is when the market becomes a buyer’s market. Though most sellers would want to believe that they decide the final price as far as selling their property is concerned, this does not always happen, especially in the case of buyer’s market. The present market is actually going through such a phase, and is being labeled as a buyer’s market. This has happened mainly due to the sub prime crisis as well as the recession that came in after that. Also the fact that the house is located in a not so good location can also attract lowball offers. In such cases, the buyer shall certainly make his point clear very early during the discussion. Normally, the situation that results in such an offer is when the property has been on the listing for more time than actually expected or required. When properties lay on the listing for too long, without any sale happening, it starts giving out negative feelers in the market and in such cases, you can quote lowball offers to take advantage of the situation. In such cases, the seller might become desperate to sell and can end up accepting lowball offers.
Another reason that prompts lowball offers is when the buyer thinks the house is worth only what is offered. This happens if the house has certain structural problems or is located in an area that does not guarantee any appreciation. In such cases, always the offer is backed by an inspector’s or an assessor’s report. He might also want to flip the house by buying low and selling high. This is not the seller’s concern as the seller is more concerned with the justification for the price being offered rather than the reason behind it. Another aspect that may be a reason for lowball offers but is of no concern to the seller is the loan qualification amount. Some buyers also quote less as they have loan approval for only that much amount.
Homes that can spell bound you San Diego Realty and Real Estate for Sale in San Diego Article Source:http://www.articlesbase.com/real-estate-articles/why-make-a-low-ball-offer-1152599.html
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