New Orleans Home Buying
Some home buyers have a plan to buy New Orleans real estate at a steep discount, so they make low ball offers on multiple houses…without ever being successful. Maybe they went to the latest real estate investment seminar. Maybe their brother-in-law told them that you should never offer full price on a home. Maybe they are shopping outside of their real budget.
Why do low ball offers fail so often?
- Sellers are insulted and have no desire to continue to negotiate with you
- The market value supports the listing price and someone who is serious about buying makes a legitimate offer and beats you out
- You may be playing in the multiple offer sandbox and will never make it past the first round
How can you make a better offer?
Do your homework
Have your agent show you the comparable sales over the last 3-6 months to determine at what price you think the house will sell and make a reasonable offer based on that information
Remember that it’s often about more than just the price – terms matter too
Be prepared with your mortgage pre-approval