Choose the Strategy That's Best for You
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The "How Low Can You Go" offer
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The "I've Got to Have This Home" Offer
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The "Poker" offer
The "How Low Can You Go" offer is contingent on you not having an
emotional attachment to the property you intend to purchase. In a
buyers' market, you may find a few homes that catch your interest
and you may want to make a lowball offer. This is usually significantly
less than the asking price.
Lowballs only succeed if the seller is desperate. You may receive a
counter offer, but more often than not, the seller will feel insulted
and ignore your offer.
Your RE/MAX associate may advise you against presenting such an offer,
but will pass it along to the vendor.
The 'I've Got to Have This Home' offer usually happens when buyers fall
in love with the home and want to present their best offer first. This
offer leaves no negotiating room, but if the market is hot, it's an
offer that will attract attention. Your RE/MAX associate will convey
to the seller that this is your best offer. Most sellers expect to
receive an offer and counter with another, so you may find yourself
in a situation where you either accept the counter offer, or walk away
from the home.
The 'Poker' offer usually arises in a sellers' market where buyers find
themselves in a bidding war for the property. If you find yourself in
this situation, all of your negotiating strength will be lost. You have
the choice to raise the bid, or fold and move on.
The power of waking away is a formidable one, especially when no one else is
competing against you to buy the house.
