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Are Low Offers Advisable?
A low-ball offer is a term used to describe an offer on
a house that is substantially less than the asking price.
While any offer can be presented, a low-ball offer can sour
a prospective sale and discourage the seller from negotiating
at all. Unless the house is very overpriced, the offer will
probably be rejected.
You should always do your homework about comparable prices
in the neighborhood before making any offer. It also pays
to know something about the seller's motivation. A lower
price with a quick closing, for example, may motivate a seller
who must move, has another house under contract or must sell
quickly for other reasons.
When negotiating, always remember that you are looking
for a win-win situation. If your low-ball offer can be
considered
a "win" for the seller as well, then it may
just work out.
Take the advice of your HomeBuyer Specialist -- that's why
you hired him!
For a Private Discussion, email us
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