Kim Mullan Blog
The Art of Packaging & The Low Offer
A low ball offer to the Seller may be appropriate market value to the Buyer.
The problem for the Buyer is that the Seller has to accept their low ball offer or it’s still the Seller’s house!
Some tips for packaging an offer that is significantly lower than list:
1- Ask your agent if you are out of your mind or if there is market data, comps and justification for the valuation you are putting on the property. Has enough time passed to suggest that price is too high for the market? Listen to your agent. If they agree move to step 2.
2- Strengthen as many other components of your offer as possible – The Gestalt Theory: the whole is greater than the sum of its parts… “would my price be more palatable if the seller had control over chattel, conditions or closing dates?”
3- TREAD LIGHTLY…Never suggest the sellers overpaid for the property or use other inflammatory language to suggest that your price is the natural consequence to their original lack of savvy.
4- Finally…do not position your offer so low that you have room to negotiate UP to the actual LOWBALL price you want to pay by testing the water with an even more intolerable offer price than the actual intolerable price you are prepared to pay. Those offers are rejected and create a toxic environment should you decide to try again with a new strategy.