Is a Low Offer a Good Idea?

You’ve spent a few of your weekends viewing houses. You’ve found a couple that you like, but none were quite “it.” Then, eventually, you visit a property that looks perfect for you. It has all of the features you’re looking for in a new house. You instantly fall in love with it.
But it is not yours yet. You’ve got to make a bid. The amount you offer will play a significant role in whether or not you get the house, and the price you’ll pay.
At this point, you might be enticed to put in a low offer thinking that you’ll get a bargain.
But that’s usually not a good idea.
The vendor (working with his or her REALTOR®) is probably aware of the current market value of the property. So your low-ball offer will unlikely make a good impression.
Also, there might be another bid that comes in at the same time — one that is near to the listing price — and you could risk losing your possibility of purchasing the property. So be wary with the low-ball game. Chances are, you’ll lose. A good REALTOR® can aide you make the right offer for the property you’re interested in buying. For a free valuation, contact us at 401-396-2888. We’re always glad to help!