Is it wise to put a low offer on a home?

If you purchased a home in the past five years, did you negotiate with the owner for the best price? In the past, Spokane as well as the rest of the United States was experiencing a seller’s market and buyers often made offers above the asking price. In the current market, some buyers negotiate to hopefully lower the asking price. It is normal to want the very best price possible.

Some buyers, however, may take this to the extreme and will try to grind away with multiple counteroffers and possibly waste everyone’s time. They may even be willing to pay the asking price but will make a pitch for a lesser price. The seller is in a bad position. But he does own the prize – the dwelling, and at one time he or she loved that home enough to buy it.

Low offers without a decent reason don’t generally help anything. A move toward a lower price offer should be carefully done. And, there should be a good reason to shave the asking price. A REALTOR® can stop what the seller may take as an insult and provide both the buyer and seller with information such as comparable sales data that will lead to a proper asking price.

Probably the best solution is for the prospective buyer to make an offer tailored to allow both parties to win.

It’s important for buyers not to get carried away with what they read about the national real estate market and misinterpret this to apply it to Spokane. We still have a very good market in Spokane. Homes for sale here are priced very well and are well worth the cost. If it is a special house there will certainly be a number of “lookers.”

A prospective buyer wants to pay the right price for a home without losing the purchase.

This little scenario generally will not happen when a REALTOR® is representing the hopeful buyer. The REALTOR® has daily access to all sales of homes in this area. When the REALTOR® has been guiding buyers and sellers, he or she knows the pulse of the marketplace in this area.