Lowball Offer Basics: 5 Things To Know

There are many scenarios where a lowball offer on a home can be a great buying strategy. You might find yourself in a buyer’s market, or face-to-face with a fixer-upper in need of some serious TLC, or dealing with a very motivated seller – all potential opportunities to get a home for less than asking price.

RE/MAX Canada polled our Facebook followers as to their bidding and buying strategy, and 75 per cent of respondents came back with a resounding “bid low!”

While there’s no hard and fast rule when it comes to making a lowball offer, there are some things you can do to improve your chances of success. First and foremost, trust your real estate agent’s professional opinion on whether or not to come in at a low price, and exactly how low you can go.

5 things to keep in mind when making a lowball offer

1. Understand the market. If it’s a buyer’s market, you’ve got less competition and more negotiating power. In a seller’s market, homes are more in demand, and the chances of a successful low bid are less likely. It’s a matter of simple economics. Trust the market conditions more than the home’s listing price, when making your offer. Have your agent do a comparative market analysis, for insight on what other homes in the area have sold for recently, and go from there.

2. Days on market. How long has the home been listed? If you’ve been keeping an eye on the listings, you’ll notice if a home keeps appearing in your feed. As days turn into months, desperation mounts and depending on the situation, the seller could be more likely to accept a low offer. It could be market conditions that have the home sitting on the market without any nibbles, or it could be the home’s condition. There may be room to come in low, but also a reason to. Have the home inspected, to ensure any problem areas can be fixed, and at what price.

3. Sweeten a low bid with a clean offer. When a quick sale is the seller’s objective, a great complement to an albeit low offer, is a clean offer. The seller likely already feels like he or she is making concessions on price, so removing conditions such as financing clauses will help. To help you stay limber at the offer table, ensure you get pre-approved for a mortgage before you start shopping. You’ll already have been approved for financing, and you know exactly how much you can spend. Removing this condition could tip the scales in favour of a quicker sale.

4. Understand the seller. Knowing the seller’s reasons for listing their home could help inform your strategy. Maybe the homeowner has already bought another home, and needs to upload this one to avoid paying double mortgages, double property taxes, double utilities, you get the idea here. Perhaps the owners have inherited the property, and have no interest in keeping it. A new baby, a new job, or a slew of other factors could also prompt the need for a quick and clean sale.

5. Make it low, but make it fair. Don’t risk offending the seller or the listing agent by coming in with a totally unreasonable offer. Ultimately, every seller wants a fair price, just as every buyer wants a bargain. Don’t waste the seller’s time – or yours – with an offer you know won’t be accepted. Be fair, and be prepared to offer reasons for your discounted offer. It could be the market conditions, the home’s condition, the location of the property, the length of time the home has been on the market, or something else entirely.

Your success of bidding low will depend on a number of factors, including your strategy, demand on the market, and the seller’s sense of urgency to sell. Work with your real estate agent to ensure your strategy considered your offer from all angles.

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Top Experienced Real Estate Agents in King City

Whether you are planning to buy a property to want to sell it with the help of an experienced real estate agent you can achieve your goals. Our team of real estate agent at THE BARCLAY TEAM will help you to find the right property for the right price. Our real estate agents exactly know how to fulfill your dream of having a perfect home and that’s what makes our team to be among the Best real estate agent in king city.


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Secured And Safe New Homes For Sale in King City

Tips for first time home buyers

Buying a house definitely involves a thorough planning and research. For most of the home buyers it is the biggest purchase of their lives. And in the process there are other costs involved as well, as at times first time home buyers might not be aware of it.  Seeking the services of a reliable real estate agent might help the process to be successful and for the buyer to get exactly what he or she would have planned. THE BARCLAY TEAM has helped hundreds of first time buyers to own a property of their own. Our listings of new homes in king city Ontario is worth checking out and you never know you may find your dream house from it.


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Beautiful greenery lands for sale in king city

Buying land is an often unnoticed form of real estate investment that do produce good returns in the future, but can’t compare the passive income what you get from the rental property. Purchasing a large strip of land might seem like an intimidating task, for those who remain careful and systematic throughout the process, and seek the help of an experienced real estate agent, it can be changed into the most rewarding experience of their lives. THE BARCLAY TEAM has an updated listings of Land for sale in king city and if you are in a search of a land in king city then we might have the one which you might be in search of. (more…)

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Top Virtuous Real Estate Agents in King City

The role of a real estate agent

The role of a real estate agent is to buy or sell a property in the most efficient manner achieving the goals of the buyer or the seller. The whole buying and selling process can become difficult for the first time buyers or sellers but with the help of good real estate agent you will be able to get your dream home and if you are a seller; you will get the guidance and the required assistance how to price your property to put it on the market. THE BARCLAY TEAM has top realtors in king city  and if you are in search of a house of your own then  the real estate agent at THE BARCLAY TEAM is your right choice. (more…)

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Admirable Safest Farms for Sale in Nobleton

Before you planned to buy the perfect farm that you have dreamt of; you must prepare your finances like comparing loans and the ongoing rates. Make sure to find out how much money you will need for the down payment of the specific kind of farm you are in search of. The next step you want to do is to gather all the information and the records that you might need to prepare all the necessary documents for the loan that you are applying for. Check out our listing of farms for sale in Nobleton which THE BARCLAY TEAM has recently updated. (more…)

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Top 6 Home Renovations in 2019

What are the most common home renovations you think will add value to homes in 2019?

We reached out to our RE/MAX Influencers – a panel consisting of RE/MAX Sales Associates throughout Canada – to put together some of the home renos they think will come before the rest in 2019.

First Impressions Are Everything
Exteriors are quite literally the first thing that people see when they come to your home. Fresh landscaping, new exterior paint, cleaning and/or painting the siding, or upgrading the outside doors are all good places to start. Outdoor space renovations and covered porches are also high up on the list of must-haves.

Utility Upgrade
Sometimes the less “sexy” upgrades are the most important ones. In this market, people seem to be more concerned with things like the life of the furnace and hot water tank. It’s also important that the utilities are highly efficient. Upgrading to heat pumps instead of the traditional forced air systems that deal more efficiently and economically with changing outdoor temperatures are becoming more important.

Basement Suites
Whether it’s to bring in supplemental income or to enjoy themselves, extra space is becoming a priority.

“Secondary suites or in-law suites.  With rising interest rates many homeowners may need to bring in additional income to afford their housing costs.” – Loni Hamer-Jackson, RE/MAX Real Estate, Kamloops, BC

Kitchens & Bathrooms 
“Kitchens and bathrooms for sure – that never changes regardless of what year it is!” – Lisa Salt, RE/MAX Vernon, Vernon, BC 

Kitchen renovations are always a good place to start to add value to your home. Removing walls to design open floor plans in older homes is always good value. Adding an extra bathroom also goes a long way.

New Flooring
New floors is a good starting point as well when trying to refresh the place.

“Removal of carpets for cleaner air” – Judy Gray, RE/MAX Mid-Island Realty, Ucluelet, BC

It’s all in the Details
Most people would know that painting of the inside of the home can help with a sale, but pay attention to the little details. Shortcuts won’t help in the long run!

“When a home is freshly painted, but a buyer opens a closet door to find it has not been painted, buyers start to ask themselves what else has been “looked over”. Don’t miss the small stuff!” – Denise Gallup, RE/MAX Camosun, Sidney, BC

For more articles from our expert Influencers, click here!

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December and 2018 Annual Statistics Released

TORONTO, ONTARIO, January 4, 2019 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a total of 77,426 residential transactions through TREB’s MLS® System in 2018. This result represented a 16.1 per cent decline compared to 92,263 sales reported in 2017. Total new listings entered into TREB’s MLS® System were down by 12.7 per cent over the same period to 155,823. (more…)

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Scott McGillivray Explains Why Fall is the Ideal Season to Sell Your Home

Scott McGillivray is a real estate expert and host of HGTV Canada’s Income Property and Moving the McGillivrays.

Did you miss this year’s prime spring real-estate selling season? Not to worry. Fall is also an ideal time to sell your home, complete with its own set of specific advantages. Read on to learn how you can maximize your real-estate game this autumn. (more…)

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