DuProprio Offer to Purchase Residential 2020-2024 free printable template
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Thank you for tuning in and welcome back to real estate facts and today's episode you'll learn about tips for getting a lowball offer accepted this is something of that everybody has a dream of whenever it comes time to buying a house my name is Andrew Finney please consider me your real estate geek I'm always here to help if you need help finding a top agent where you live or if you simply want to drop me a line to say hello my contact info is below if you haven't already done so please go ahead and subscribe to this channel now and like this video thank-you now they get the most impact out of this video you'll want to watch the full video, so you know how to get your lowball offer accepted when you're thinking about it so lets go ahead and get into it so why do people think about making a lowball offer same reason that sellers always think they want to get the most money for the property it's our human nature that wants us to get the best deal possible and when it comes time to buying a home there are some things that you should know about how to get a little ball offer accepted first is understanding what kind of market you're in for those fortunate enough to be buying a home in a buyers market you're all you're you're more than likely able to get your lowball offer accepted because there's not as many buyers in the market and there's too many sellers in the market if you're in a sellers market on the other hand you might want to consider making a reasonable offer or a fair price offer because you probably won't get your offer accepted if there's a lot of competition on that property if you're in a balancing market a market that's kind of in a limbo phase from going from tree in the middle of being a sellers market in a buyers market then you might be able to get a lowball offer accepted as well it all comes down to what lowball means to you if lowball treating to you means 2 percent under or 5 percent under okay that's pretty reasonable now if lowball to you means like 25-30 percent under well that's not so reasonable you could actually put a seller in position where they can't sell the house if they were to accept your offer without coming to the closing table with money and most people wouldn't do that because now they'd be looking at a short sale as opposed to just maintaining the property they're able to do so lets look at common mistakes that buyers make whenever they make a lowball offer buyers who make lowball offers this is a big one buyer that make a lowball offer because they can't afford to pay more what that means is lets say that you're looking at a house at 300000 and your loan officer approved you for two hundred and seventy-five thousand, so you write them an offer you write the seller an offer at 275000 because that's your max Priya but let's say that fire market on that three hundred thousand dollar home is three hundred thousand dollars they're not going to take your offer, and it's time for you to be realistic to don't...
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