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Nina Kraus' Blog

By Nina Kraus | Agent in Milwaukee, WI

Should I "low ball" my offer

In today's market, the answer is an emphatic NO!   The days of "low ball" are done. It is now the day of "no regrets". The real estate market is changing with multiple offers coming in on good properties in a short amount of time. Making an offer figuring the seller will counter when there is another offer is not the way to go about it. When you choose to make an offer today, make the offer to the point that you would have no regrets over losing it to someone who offered $10 more. It is the time to put your best foot forward. Offer what the house is actually worth to you.

Also in this time of multiple offers, make your offer more attractive by having a quicker closing time.  Try to close in 30 days.  If it is a foreclosure, try to close sooner.  If you have to have your closing costs and pre-paids paid by the seller, add them to your offer price.  Don't miss out on the chance to have the house that you want.

But, also don't get so emotionally wrapped up in all the buyers out shopping and buy without thinking it through.  You have to weigh the pros and cons of a house and whether it is truly worth what the seller is asking.  Sometimes, there is just one part of a house that stands out so much that it makes you forget that the bedrooms have tiny or no closets or the rec room wasn't done well or simply that the house needs work outside of that one "special" room.

Buying a house is a big investment not only financially, but emotionally as well.  When you find the right house, don't low ball.  Offer what you truly want to pay.

For more real estate advice,
check us out at  www.facebook.com/kraushouses

Comments

By Connie Mitchell,  Mon May 7 2012, 15:17
Great advice!
By Marianne Bandy,  Mon May 7 2012, 19:35
Good points, Nina! We still have buyers here in Denver that have not figured out the market has shifted. Especially in the entry level homes, full price offers are now required to get them.
By Nina Kraus,  Wed May 30 2012, 17:43
We have the same thing here. This was actually written based on a buyer of mine who lost a home because she low balled it. Now she is spending a lot more than she had actually planned on, but got a very nice home. Didn't low ball again :)

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