Category — Making an offer

Generally, making low offers on a home is a bad idea. Making a low offer can backfire, and get your offer rejected out of hand or get you a worse deal than you could negotiate otherwise. Under some circumstances, though, making a low offer is justified. When might you make a low offer on a home?  

If you’re buying in a buyer’s market, you might be able to negotiate escrow credits with the seller. If buyers have the advantage in the market, some sellers might be willing to offer escrow credits to ensure that a home sale goes through. One useful credit that sellers sometimes offer is to negotiate nonrecurring closing costs in escrow.  

If your dream home is new on the market, attractive and reasonably priced, you might face competition for the property. What can you do to avoid entering into a bidding war and losing your dream home to buyers with deeper pocketbooks?  

Some sellers begin the process of selling a home with the best intentions, but position themselves or their home unrealistically. When the market doesn’t provide what they ask, they don’t adjust to the marketplace; they try to force the market to adjust to them. These sellers aren’t serious enough about selling their home, and can become a big waste of your time and money if you go through the process of making an offer.