Many areas around the country are experiencing a “Blooming Spring market.” In this good market, buyer’s need to exercise caution when writing offers on homes that are way below asking price. Bargaining is indeed an art, and the last thing you want to do is to insult the sellers. And, you also don’t want to loose your dream home over a few thousand dollars.
An unreasonably low offer risks angering the sellers to the point where they won’t even make a counter-offer. In general, an offer way below asking price is not customary and faces rejection. However, there are ways to proceed with respect when you feel that a lower offer is substantiated.
Sit down with your representative and make a list of reasons to share with the seller about why your offer is less than asking price; or, strongly consider negotiating other terms of the purchase, such as closing costs or repairs. A reduction on those aspects can still yield a savings for the seller.
If you are ever in the presence of the sellers, kindly exhibit respect for their home and them personally. Consult with your representative before arranging meeting with the sellers to make sure you’re all on the same page.
Ultimately, the best way to make your offer with confidence is to realize that there may be other attractive homes for sale in your price range. If a seller rejects your offer outright, you may need to move on to another property. On the other hand, if you’ve found your dream home, why not make a reasonable offer that the seller probably will accept?
This article originally appeared at dailycall.com