Risks With Low Offers - You Will Not Have to Make Low Ball Offers When Looking at Toronto and Guelph Homes, Scarborough, Port Perry and Richmond Hill Homes
Nobody wants to pay too much for Toronto condos for sale, but some people will go to extreme lengths to get a deal, including pitching low ball offers to sellers. Sometimes the low ball gamble will pay off and you'll get the property you want for a song, but you can't expect things to always go your way. There are risks associated with making a low ball offer and you should know what they are before you make your bid on the Guelph real estate you had your eye on. Here are just a few of the things that you risk when you low ball.
Low ball offers are offers that are well below the asking price - and the market value - of a home, so when sellers see what you're willing to give them, they won't be pleased. In fact, the most common reaction to a low ball offer is anger, which is why Scarborough real estate agents generally recommend against low balling sellers. As a buyer, you have to hope that the seller desperate enough to swallow their pride and negotiate with you - or even accept you. But what's more likely to happen is that they will reject your offer outright.
What you don't see when their agent passes along news of the rejection is how angry they are, but if you make another offer in an attempt to negotiate, you'll soon find out when that offer is rejected too. In fact, insulting a seller with a low ball offer can result in that seller refusing to deal with you at all after that, which means you're out of luck if you really wanted to buy their Port Perry real estate. You've burned a bridge and lost your opportunity. And more than that - given yourself a bad reputation in the real estate world, which may convince agents not to work with you either.
Sometimes you can get away with a low ball offer, but people often misjudge the situation and low ball sellers who know they can get more out of somebody else. Low balling someone who has popular condos for sale in Richmond Hill just because you want a deal will not work. With a popular home, you often have only one shot at getting it before it's sold to someone else, so you need to come in with your best offer. Making a low ball offer just makes it easy for them to choose someone else.