Is a low initial offer a good idea?
Offering substantially less than the asking price is commonly referred to as a “low ball offer.” Any offer can be presented, but a low-ball offer may sour a prospective sale and discourage the seller from negotiating at all. Unless the house is very overpriced, the offer will probably be rejected or ignored. Always do your homework about comparable prices in the neighborhood before making an offer. It’s important to know the seller’s motivation. A lower price with a speedy escrow, for example, may motivate a seller who must move, has another house under contract or must sell quickly for other reasons.
