Ignite FB Tracking PixelWhat to Expect If You Submit a Lowball Offer on a House - Jeff Rochford
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What to Expect If You Submit a Lowball Offer on a House

by Jeff Rochford 11/04/2018

A "lowball" homebuying proposal is unlikely to do you any favors, particularly if you want to acquire your dream residence as quickly as possible. In fact, after you submit a lowball offer, it may be only a matter of time before you receive a "No" from a home seller.

When it comes to buying a house, it helps to prepare a competitive offer. That way, you can increase the likelihood of getting a seller to accept your home offer and speed up the homebuying journey.

Now, let's take a look at three tips to help you avoid the risk of submitting a lowball offer on your dream residence.

1. Analyze the Housing Market

Are you searching for a house in a buyer's or seller's market? Are homes selling quickly in the current real estate market? And are houses selling at, above or below their initial asking prices? These are just some of the questions that homebuyers need to consider as they assess the real estate sector.

With a diligent approach to buying a house, a homebuyer can become a real estate market expert. This buyer can assess a wide assortment of housing market data, and by doing so, gain the insights that he or she needs to submit a competitive offer on any residence.

2. Understand a Home's Condition

A home purchase is one of the biggest transactions that an individual will complete over the course of his or her lifetime. As such, the decision to submit an offer on a house should not be taken lightly.

To make the best-possible choice, it helps to look at all of the available information about a residence. You should review a home listing closely and attend a home showing. In many instances, it may be beneficial to check out a house a few times to get an up-close look at it before you submit an offer.

The condition of a home will play a major role in how much you are willing to offer to acquire a residence. Therefore, you should learn as much as possible about a house's condition. And if you feel comfortable with a home, you should be ready to submit an offer that will match a seller's expectations.

3. Collaborate with a Real Estate Agent

Hiring a real estate agent generally is a good idea, particularly for a homebuyer who wants to reduce the risk of submitting a lowball offer on a house. A real estate agent can help a homebuyer prepare a competitive offer, as well as ensure that a buyer can enjoy a seamless home transaction.

Furthermore, a real estate agent will allocate the necessary time and resources to help you analyze a house. He or she will even offer homebuying recommendations and teach you everything you need to know about the homebuying cycle.

Avoid the temptation to submit a lowball offer on a house – use the aforementioned tips, and you can submit a competitive proposal to acquire your dream residence.

About the Author

Author
Jeff Rochford
I am a native Phoenician and with my experience in real estate as well as my intimate knowledge of the local area, I work extensively to help buyers and sellers meet their real estate goals. For buyers, as a Phoenix area native, I have extensive knowledge of the metro Phoenix area from Scottsdale/Carefree in the northeast to Glendale/Peoria in the northwest to Queen Creek in the southeast to Goodyear in the southwest. I will search until I find the property that best fits your lifestyle. I will then help negotiate the best possible deal. I also have extensive experience with buyers who wish to purchase new homes. If you are interested in buying a new home you have the right to be represented by your own agent so don’t miss this opportunity speak to me before visiting the builder’s models. And best of all there is no additional cost to you. For those who have a home to sell, I will work with you to design a marketing plan that works best in this dynamic market. In addition to the traditional ways of marketing your home, I can expose your home on the internet to thousands of buyers. These are buyers from all across the country and around the world that can contact me looking to buy in the Phoenix area. Nothing gives me more joy than helping my clients find and buy that perfect home. I would like to be Your Realtor. If you are looking to buy or sell a home or would just like more information, please call me at (602) 369-7882 or just email me at [email protected] Thanks again for choosing MyPlaceInTheDesert.com ‘For Your Place In The Desert’ for Phoenix real estate.