Just How Low Should You Go? How and When to Make an Offer Below a Home’s Asking Price

Just How Low Should You Go? How and When to Make an Offer Below a Home's Asking PriceEveryone likes to get a good deal – especially if it is on a high ticket item. For most people, the purchase of a home is the largest purchase they will make in their lifetime. So, if you are able to secure a piece of real estate at well below the asking price, it could make a tremendous difference in your monthly mortgage payment, as well as with the amount that you end up paying out-of-pocket overall.┬áBut not all sellers are open to an offer that is well below their current asking price. So, how do you know when you can safely proceed (without getting flat out rejected), and when to move on to another deal?

While being able to get a “yes” from a seller isn’t impossible – even in a hot seller’s market – there are some signs that may mean that a lower offer price could very well be attainable. For instance, in some cases, a seller may need to get out of their home quickly.

This can be due to any number of reasons, such as a job transfer or divorce. Here, it could be more important to the seller to just simply get rid of the house – even if it means netting less money for it.

A seller may also be open to accepting a lower price if there are a number of repairs and / or updates needed. In this instance, rather than spending time and money to make the repairs themselves, the sellers may be happier to take a lower sale price and move on.

Are you thinking about making the purchase of a new home soon? If so, we can help. We’ll work with you in finding the ideal residence in the location that you desire – and we will also assist you with negotiating a price that fits in with your budget. So, give us a call today.

By |2018-06-04T16:23:52+00:00June 5th, 2018|Advice, Home Selling|

About the Author:

I grew up in the Bowie-Crofton area with my 3 other siblings. As the middle child, I have a natural talent for negotiating! I moved to the Annapolis area for several years after I graduated college, and I currently reside in Arnold with my wife, son, and daughter.