Low-Ball Offer

Low-Ball Offer
A low-ball offer is a term used to describe an offer that is considerably lower then the property value. Sellers are likely to encounter low-ball offers when the property has been on the market for an extended period of time. Buyers perceive sellers as anxious to sell the home, and so they make an extraordinarily low offer. Although low-ball offers are typically displeasing to sellers, it sometimes stimulates productive negotiations and may ultimately end in an acceptable offer. First-time home buyers frequently present low-ball offers simply because they have not seen enough homes to become familiar with what comparable homes are selling for. Buyers want to pay the least amount that they can for a home, but an offer should be reasonable and based on comparable homes that have recently sold in the vicinity. Real estate agents can provide buyers with a list of comparable homes and their respective selling prices.