Even though the Tri-Cities market is heating up again, there are always going to be buyers looking for a “deal” on their new home. Maybe they think they can get a sweet deal because of what they’re hearing about real estate in other parts of the country.
So they find a house they like, then they’ll write an offer 10%, 20%, or 25% below the home’s asking price. I’ve had clients do that, and I’ve been the listing agent when it’s been done to sellers I’ve represented.
Guess what happens when a buyer writes a lowball offer like that?
More often than not, the seller gets offended. And I mean so offended that they refuse to work with the buyer AT ALL, even if the buyer later comes up to a more reasonable price.
To the buyer, it’s just a numbers game. But for the seller, selling a house can be full of emotional land mines. When you ask them to part with their home where countless memories have been made for less than what it’s worth, they WILL be insulted.
And be careful about thinking, “the seller can always make a counter offer” when you submit an incredibly low offer. Truth is, many sellers won’t counter at all when they’re offended.