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Best Scenario’s for Low Ball Offers

Monday, April 28, 2008 posted by Tommi Crow

moneyhousephoto.jpgHome Buyers are in the enviable drivers seat when shopping for a home.  Big savings can result from lowball offers, if they are presented and negotiated smartly.

The Best Case Scenario for Lowball Offers

  1. The property has been on the market for at least 120 days.
  2. The sales price has been reduced 3 or more times.
  3. At least a month has passed since the last price cut.
  4. Sellers have a compeling reason to move such as death, illness, divorce or job loss.
  5. Homes advertised as “all offers considered”, “willing to negotiate” or “must move.”
  6. Neighborhoods with an inventory glut and heavy competition.
  7. Sellers who have owned the property for over 5 years. 
  8. Homes that are back on the market, after being under contract.

Tommorow we will look at presenting and negotiating a lowball offer.  

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