Why You Should Never Make A Lowball Offer On A House

Real Estate Survival Guide with Terry Story

Lowball Offer On House

Today’s talk with Boca Raton real estate agent Terry Story begins with a question from Steve about the wisdom of making a lowball offer on a home you’re interested in buying. Terry states unequivocally that lowball offers are a bad idea all the way around, particularly in today’s seller’s market when a majority of listed properties receive multiple bids. Not only are these offers almost always rejected when sellers have the upper hand, as they do now, but offended sellers generally won’t bother to make a counter offer. If the rejected buyer wants to submit a new, higher bid, his negotiating power is far less than it would have been without the lowball bid. (0227)