It's Not A Low Ball Offer If The Listing Is Overpriced
As listing agents we don't like "low ball" offers do we? If we're not careful the sellers get pretty upset and any hopes of bringing that deal together can go write down the toilet.
As buyers agents we'll write them, even after clearly explaining to the buyer that a fair offer is $xxx,xxx and not $X minus 20% when the evidence supports the first value. But we write it and hope for the best, that either the seller is willing to come down significantly, or that the buyer will move up enough and somewhere there's an acceptable middle ground for both parties that gets the deal done. And if not, well "NEXT" and we go on looking for another acceptable home to write an offer on.
But other times, the asking price just can't be supported by the homes sold in the neighborhood. Mass foreclosures have sucked the neighborhood home values down. And while Mr. Investor has done a great job of updating the home, it's an appraisal nightmare in the making anywhere near list price. $X - 20% actually IS the right offer this time!
So at first glance, it might seem like a low ball offer, but it's not. It's just the appropriate value for the neighborhood. Let's hope the seller realizes it quickly rather than after months of "low ball" offers.
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
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