What’s Wrong With Making a Low Ball Offer? – New Orleans Home Buying

    low ball offers - new orleans real estate

    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

     

    MORE EXPERT HOME BUYING ADVICE

     

     

     

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