Is a low offer a Good Idea?

You’ve spent a couple of weekends viewing condos. You’ve found a few that you like, but none were a quite “it”. Then, finally, you visit a property that seems perfect for you. It has most of the features you’re looking for in a new home. You quickly fall in love with it.

But, it’s not yours yet. You have to make an offer. The amount you offer will play a huge role in whether or not you get the unit, and the price you’ll pay.

At this point, you might be tempted to put in a really low offer in the hopes that you’ll get a bargain.

That’s usually not a good idea.

First, the seller (working with his or her REALTOR) probably know the current market value of the unit. So your low-ball offer will not make a good impression.

Second, there might be another offer that comes in at the same time- one that’s closer to the listing price- and you might risk losing your chance to buy the unit. So, be cautious with the low-ball game. Chances are, you’ll lose. Need help making the right offer for the unit you’re interested in purchasing? Call today.

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