Low-Ball Offer???

[ClintClint]

Yesterday, I tried to get my Agent ( not the listing Agent ) to present an offer of 83.5% of the listing price. My Agent told me that "the Seller would probably ignore it and not even counter. I would be negotiating with myself". The Agent stop short of refusing to present the offer but made it very clear that I would be wasting my time and the Agent's. The home is South of 30-A in an area where the Sales price versus List Price ratio is in the 88-90% range ( I think ). I've worked long and hard with this Agent to find this property and have a good working relationship, but frankly I'm flabbergasted at this attitude.

 

[Biff]

:scratch: I know of a couple of GRAYTE Realtors here on SoWal that would glady assist you......With Grayte attitudes

 

[ClintClint]

Thanks Biff, I'll PM you when I decide what to do.
If a 83.5% initial offer is considered a low-ball offer to the extent that it would offend Agents and not ellicit a counteroffer, then I'm fishing in the wrong waters.

 

[RiverOtter]

Yesterday, I tried to get my Agent ( not the listing Agent ) to present an offer of 83.5% of the listing price. My Agent told me that "the Seller would probably ignore it and not even counter. I would be negotiating with myself". The Agent stop short of refusing to present the offer but made it very clear that I would be wasting my time and the Agent's. The home is South of 30-A in an area where the Sales price versus List Price ratio is in the 88-90% range ( I think ). I've worked long and hard with this Agent to find this property and have a good working relationship, but frankly I'm flabbergasted at this attitude.

I've had agents act the same way. I just got a low ball offer on my house. It did not bother or offend me. We ended up under contract but at my price . You've gotta start somewhere

 

[Jdarg]

I've had agents act the same way. I just got a low ball offer on my house. It did not bother or offend me. We ended up under contract but at my price . You've gotta start somewhere

Congrats!!! That beautiful bathroom re-do paid off!

 

[RiverOtter]

Congrats!!! That beautiful bathroom re-do paid off!

Thanks. Really, watching HGTV for as often as possible helped too

 

[Smiling JOe]

If you don't ask, you won't receive. If your agent didn't "want to waste their time," they could always run a verbal offer by the seller to see what they say. I welcome all offers, because it takes only a quick moment to get a reply on anything which is ridiculous. Sellers' situations tend to change fairly often in these times, so a "low-ball" offer today, may be accepted with gratitude tomorrow. I presented three low-ball offers yesterday, on properties which are priced to sell quickly. All of the offers were rejected, and the buyers now know that they need to keep looking, or come up with more cash.

 

[Kurt]

Agents who don't want to was their time are lazy agents who are not serving sellers or buyers. Just say "no" to verbal offers. I believe there are verbal offers that when presented properly in writing, giving the seller time, can be turned into deals. And you never know when circumstances might change quickly.

Aren't you more likely to get a counter offer from a written offer than a verbal one? A counter offer may mean a deal that can be worked. Aren't you doing the seller, and buyer, a disservice by not securing written offers?

 

[scooterbug44]

Get a new agent who will deign to bring ALL your offers to the table!

I made a lowball offer (still a very fair one IMO as I'd done my research) and the seller said it was so insulting that he wouldn't even dignify it w/ a response ........................fast forward a year and a half to when he accepted an offer that was within $15k of mine!

 

[YoungFT]

Offer Strategies

Curious if anyone has tips on what other tactics a buyer can use to "sweeten" a low ball offer?

How useful is a pre-approval letter from a reputable mortgage company (if the term "reputable" is still in use)?

Willingness to close fast?

Not asking for closing costs or other seller contributions?

Willingness to allow current owner to rent for some period (although I'm not sure this is as relevant in a heavy concentration of investor / 2nd homes)?

Anyone seeing anything really creative in today's market beyond price to get the deal done?

Let me also acknowledge that what I'm asking might be viewed by many of the good agents on this Board as part of your "secret sauce". But as someone noted above "if you don't ask, you don't get." (paraphrasing)

Curious if anyone (realtor or not) has any good tidbits. Thanks in advance.