Low Offers You have found the perfect house with everything you wanted–and then some–but the price is more than you want to pay. You decide to go for it anyway, and ask the agent to submit what Realtors call a “low ball” offer. Low ball offers sometimes work. If the market is fluctuating and the sellers are anxious, they may just go for it. If the house is listed at a higher price than it should be, the sellers will probably be willing to negotiate. Most sellers are reasonable and open to offers, but they won’t give their house away, especially if the asking price is in line with recent sales of similar homes. What do you have to lose by making a low offer? If the seller yells and screams, the agent and not you, will be the focus of his wrath–and we don’t take it personally. If you really want the house, however, a very low initial offer may irritate the seller to the point that he won’t consider a better offer, if you decide to submit one. Design your strategy on the basis of how badly you want the house.
Bargaining You found a house that seems perfect and you really love it–the chemistry is there–and the price is right. If you are like many buyers, you start off by asking the Realtor if the sellers will take less than they are asking. A Realtor doesn’t know what the sellers bottom price is. The sellers often don’t know themselves until they get an offer. In many cases, the price is negotiable, but the only way to test it is to make the sellers a written offer to accept or counter. Attractive, well-priced homes usually sell quickly in any market. If you get involved in offers and counter offers, another buyer could come in with a better offer while you are negotiating back and forth. If you cannot qualify for financing at the asking price and you are willing to risk losing the house, you can make a lower offer. But if it will break your heart to lose a home in the Luling area you really love that you can afford–it may be worth paying the asking price.