Justifying a Lowish Offer (or not)

Buyer: “My Offer is (WAY) Below Asking Price Because . .”

It’s no sin trying to buy a home at a discount.

Especially in a strong Seller’s market, it’s unlikely to work . . . but there’s no harm in trying (as they say).

What I wouldn’t recommend doing is trying to justify a low offer on a newly-listed, well-priced home with a bogus rationale that’s likely to annoy (or worse) the Seller.

Bogus Reasons

Here are variations on a couple excuses justifications I’ve heard in just the last few months (note: I’m embellishing, but only a little — and no, the proferred explanations are not mutually exclusive):

Prospective Buyer (via their agent) to Seller:  “I love your home, but I’m offering $25k – $50k below your asking price because . . .

–“The home’s windows are the wrong size” (My response: “?!?!”).

–“I need a reserve for a new roof” (that, on a home with 15 year-old roof in perfectly good condition; a completely new roof would have cost about $15k).

–“All the window treatments need to be replaced” (even if that were true — and it wasn’t — a reasonable budget for that would be < $5k).

–“The granite Kitchen counters are the wrong shade of gray.”

Needless to say, none of the offers led to a consummated Purchase Agreement.

But, in at least two cases, the bogus offers helped flush out the real Buyer . . .

See also, “What Lowball Offers Really Accomplish.”



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