If a buyer submits a “low ball offer” would you as a seller be insulted by it? Would you consider it to be from a buyer who is not serious about buying? Would you think that the buyer is disrespecting you and your property?
Buyers have a right to negotiate their best price and that is what they are doing when they submit an offer that seems too low to be a real offer. I have had buyers who have submitted what are very low offers and sellers who refuse to counter that offer but I believe that seller is losing out on an opportunity. If that seller doesn’t counter they will never know what that buyer might actually pay. I have seen buyers jump hugh sums when rejected by a seller – they just wanted to hear it directly from the seller that they won’t sell for a lot less. They don’t want to overpay….
What is a low ball offer? Recently I had a buyer who offered between 18 and 20% off of the listing price thinking that a very low offer “could be met in the middle”. If you are a buyer you should consult with your real estate agent about when it is appropriate to try this. In a sellers’ market with a new property on the market probably won’t work, however in a buyers’ market where a seller is looking for an offer it might. It isn’t appropriate to just low ball every property and “see what happens”.
Aside from getting a “good deal” acting in good faith plays a part..