Parkville Homes - Do I "Lowball" The Seller??

Parkville Homes - Do I "Lowball" The Seller?

"It's a buyers market, shouldn't I lowball the seller?"

"What difference does it make? The seller will just counter right?"

"If the seller is motivated they will give me the house at whatever price I want right?"

These are questions I hear quite frequently in this market from many buyers.

As a professional REALTOR, and someone who purchased a home before, the worst thing you can do is submit a lowball price on a home you love!

Can this "lowball" method work? Well anything can work once. But doesn't mean that it's the best way to do things.

The home buying process can be stressful and emotional. My recommedation is if you don't feel the house is worth it, don't write on it! I'm not suggesting that all sellers are reasonable with their prices. There are a few sellers who have been on the market much longer than they should be. That could be for a number of reasons, but that is another blog article so, check back for that one.

Review recent sales with your REALTOR (or check the Market Analysis) and if the house is price several thousand dollars below what other comparable homes are selling for ,considering condition and location , you stand a chance of getting a counter or even being out bid if there are multiple offers.

Find a home that you feel is worth the price, meets your needs long and short term and within your range. This is even more so in the world of short sales. Banks want to sell the home, but not give it away.

Remember, the seller DOES NOT have to counter your offer. The seller can reject the offer and not consider any further offers from you.

For first time and primary resident buyers, the house is more that just price. If it were just price any old house would with a door and 4 walls would do.

Ready to explore a purchasing a home? What's your next step?

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Keller Williams Realty Baltimore