If you are categorically against mortgage slavery and none differentiated or annuity payments they cannot bribe you, but you still want to have your own apartment, there is a way out! However, it is quite risky, because no one can tell you for sure whether it will be possible to persuade the seller to make concessions. Everything depends solely on your eloquence, communication skills, convincing arguments and a bit of luck.
❝Lowball offer (offer below the market value) is a term used in negotiations to denote an object whose value is being artificially lowered compared to the market or estimated value.❞
That is, any apartment, house or object of commercial real estate can be called a lowball offer on the real estate market, if the potential buyer offers for it an amount significantly lower than that specified by the seller. At first glance, it may seem that this does not make sense, because the owner is counting on a specific amount of profit and will not deviate from his plans. However... different situations happen, so it's worth taking a closer look at the features of an offer below market value.
By making a bold offer that does not meet the set price, the seller is trying to feel the soil, so to speak. Perhaps the owner will agree to bargain a little and reduce the price, although not to the desired, but more pleasant. A lowball offer is especially appropriate when the owner of square meters wants to sell his property as soon as possible for one reason or another. Then he will be more willing to make concessions, because time, not money, takes the first place among his priorities. So, if you made an offer below the market value, there may be several options for the development of events:
- the owner will agree and you will have a profitable deal in your pocket;
- the owner can offer another price, which will be the golden mean;
- the seller will refuse and your cooperation will either end, or you will have to pay the full amount and forget about the savings;
- too low an offer can offend the owner and then he no longer wants to negotiate with you;
- too brash and frequent offers on your part to different owners can negatively affect your reputation in the local real estate market.
Lowballing is a rather risky strategy, so we do not recommend trying your luck on your own. Real estate experts know how to find an approach to people, so they will be able to more delicately offer a different price and get out of a conflict situation if it arises.
Example of use:
— Oh, I like this house so much, but the price is biting.
— Maybe try using the lowball offer strategy?
- What is it?
- Go to the viewing and offer the owner a slightly lower price. Perhaps he will agree to a compromise and reduce it at least a little.
- Thanks for the advice. I hope it works.
So that prices don't bite and sellers don't get offended, turn to the real estate experts at THE Capital. We even elite apartment in the center we will be able to find at a moderate cost.
