3 Common Buyer Misconceptions About Making Low Offer


You’ve found the house you want! Now is the time to make an offer the seller can’t refuse. If you are thinking of making a low offer,  think twice. 

Why? It’s a sellers market, which means it’s a competitive market right now with other buyers bidding for the same house. If your competition outbids you, they will get the house. 

Offer a low price, but don’t expect to be closing on that home anytime soon. 

Here’s 3 things thing to re-consider before you make an low offer:

“I want to submit a low offer.”

Before you want to submit a low offer on a house, check the Comparative Market Analysis (CMA) that can be provided to you by your Realtor.  A CMA will show you market data for similar homes in the area and will help you determine what offer priced based on this range that would be reasonable.

Take a moment to analyze why you want to submit a low offer.

“I found online that this house should be worth way less than the seller is asking.”

It’s easy to get a false idea about home values based on certain automated valuation databases available online. Online information is often based on a limited set of facts about a house, such as square footage and number of rooms. Important factors are missed such as: desirable school district or the location of a property.

Ask your Realtor how these online valuations work before you make a decision based on them.

“Why is the appraisal lower than my offer?”

If the appraisal of the house comes in low, talk with your Realtor before using the appraisal as a basis for your offer. Your real estate agent can explain the appraisal process and it’s implications.

Simply put, before you submit a low offer on home, talk your real estate agent. Find out the reason behind why you are thinking about making a low offer. Then do more research to get down to the bottom of what the home is really worth.


Joe Moshe
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Joe Moshe

Joe Moshe is the Broker/Owner of Charles Rutenberg Realty Long Island, offering 100% commission to Agents. With over 1000 agents, it's one of the fastest growing, most progressive real estate brokerages on Long Island.
Joe Moshe
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