What Buyers Should Know About Lowball Offers
November 11, 2020By Maggie Li
What Buyers Should Know About Lowball Offers
In a market as hot as Weston or Wellesley, a lowball offer is usually a recipe for rejection. However, there is a time and place for an aggressive bid.
When to Go Low
- High Days on Market: If a home has been sitting for 60+ days, the seller may be ready to talk.
- Major Repairs Needed: If the inspection reveals $100k in work, your price should reflect that.
The Risk of Insulting the Seller
If you offer 20% below asking on a fresh listing, many sellers will refuse to even counter-offer. You might burn the bridge for a future negotiation.
Strategy: If you go low, back it up with data. Show the seller why the comps don't support their price.
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