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Is a Low Offer a Good Idea?

You are house shopping and you've found the one you want.  The price is likely reasonable.  If it's the one for you then you likely see the value.  Human nature being what it is, you want to get the home for less than it is listed.  No, you want to get it for a lot less than it is listed!

Is putting in a low offer a good idea?  Hopefully your Realtor will properly counsel you as to what is an acceptable offer.  Also, the property you are interested in is likely represented by a Realtor whom has performed their due diligence and has therefore come up with a price that is market worthy.  Your low ball offer may not be very well received.  In fact, some sellers are so insulted by a low offer that they may not respond at all to your offer.  You also have to weigh the chance that another buyer may be offering on the property in the meantime.  If their offer is better than yours guess what?  They are not entertaining your offer. 

A low offer is always a risk.  People forget that you can't get a good steak for the cost of a hamburger!  Thanks for reading!

By Patrick Murray