Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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LOW BALL OFFERS IN A BUYER’S MARKET

LOW BALL OFFERS IN A BUYER’S MARKET

 

            Buyers who held off purchasing a home while the market was booming are now on the lookout for a good deal.  With a larger inventory of houses sitting on the market for longer periods, some buyers think that a seller will snap at their offer, even if it is 10% to 15% below the listing price. But most sellers would reject such offers ─ preferring to sit on their property, and are not yet willing to sell their home for less than they paid for it.

            The rule of thumb in a shifting market, if you want to make a low ball offer on a home, is to make an offer between 3% to 5% below the asking price. 

            It helps to know why the seller wants to sell.  A seller who is transferring to a new city, has bought another home and can’t afford two mortgages or needs to reduce investments will be more open to negotiating the price. 

About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty

Comments

Some of our buyers are crazy and want to offer 30% below properly priced property. Some people are nuts.
Posted by Christine Adler, SE Palm Beach, Broward & NE Miami-Dade Counties FL (FindAHomeWithMe.com) over 12 years ago

Christine Adler And then again - in retrospect - in many cases 30% below list was much better than 65% below original list as a short sale!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 3 years ago

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