The real estate market—and daily life—has been completely upended in just a few weeks. Yet maybe in spite of it all, you’ve managed to find a home you love and are ready to make an offer. Congratulations! But as you hover on the brink of what is potentially the biggest investment of your life, amid a global crisis, you may be feeling a fair amount of uncertainty.
Most house hunters hoping to find that hidden gem: a great house listed at a low price. While that occasionally happens, it is more common for buyers to try to create their own discount by making a lowball house offer.
A lowball offer, or an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted by the buyers’ disregard for their property. Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn’t taking the buyer seriously, there’s not much you, or the real estate agent can do.
However, as a buyer, you can take steps to increase the likelihood that your low offer will be accepted, or at least increase the chances that negotiations can take place. Realtor.com