The Art of bargaining in the Real estate world

The Art of Making a lower offer

As a homebuyer, finding a hidden gem at a low price is a dream come true. However, making a lowball offer can be risky and may offend sellers. To increase the chances of a successful lowball offer, follow these steps:

*1. Know the market*: Understand current market conditions and the value of the property. A seller’s market may not be ideal for lowball offers.

*2. Be respectful*: Treat sellers with respect and appreciation for their property, even if you think it’s overpriced or needs repairs.

*3. Have your agent contact the listing agent*: Depersonalize negotiations and gather information about the sellers’ motivations and previous offers.

*4. Have your financing in order*: Secure pre-approval and make a significant earnest money deposit to demonstrate your seriousness.

*5. Minimize contingencies*: Keep contingencies to a minimum, but still include a home inspection to avoid unexpected repairs.

Remember, a lowball offer may not always be successful. Be prepared to lose the house if your offer is too low, and prioritize finding a home that fits your budget and financial goals.

Accepting as it is!!

When sellers are offering their home at a bargain price, it’s best to keep contingencies to a minimum to avoid complicating the sale. While it’s essential to understand the property’s condition and potential repair costs, you should be prepared to accept the house in its current state. Keep your expectations realistic, and don’t assume the sellers will accommodate extensive contingencies or repairs.

However, if you can make a low offer respectfully, in the context of your local market, you could end up with the bargain home of your dreams.

Keep in mind that today’s market hasn’t shifted and it still is considered a seller’s market even with the on going interest rate, so always ask yourself how bad do i want this property? besides that get a great real estate agent that will find and put your needs and wants first. Follow these steps, be optimistic and Happy Shopping