Guest Contribution from Rebecca D. Levinson
Corporate Blooger/Community Leader
Connect2Agent - Lake Geneva, Wisconsin
Phone: 888.513.7860 / firstname.lastname@example.org
Are you considering making a "low-ball" offer to purchase your dream home? Any offer that is more than 10% off the asking price can be considered a low-ball offer. By sending a low-ball offer to a seller, you might be presenting yourself to sellers a someone that is not serious about buying their home.
Even in this market, homeowners do not like to waste time with "wannabe" home buyers with offers that are more than 10% off the listing price. Hence, you could impact your negotiating power with a seller.There are many reasons why this is the case. Even though a real estate transaction is a business transaction, many sellers have personal feelings invested in the sale of their house. Their home has become like a welcoming friend, and so a low-ball offer can feel like a personal insult.
Some sellers cannot afford to sell for much less than what they are asking for their house. If the price of the house is in line with the current market values, they will not be in a position--nor will they be willing--to accept your offer.
The best way to make an offer on a house is to choose the right local real estate professional to assist you with home prices in the market.
(David's Note: For the full version of this article, click here)