RICHMOND Apr 3, 2015 Real Estate Weekly
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R E A L E S T A T E W E E K L Y
FRIDAY, NOVEMBER 14, email@example.com 604-435-7977
Looking to BUY or SELL a home? To assist you in making the best decisions, a professional Realtor can provide the most
up to date information on the real estate market, price, nancing and comparative
properties in your area.
Find your EXPERT Real Estate professional right here in REW.ca!
RICHMOND STEVESTON FRIDAY, APRIL 3, firstname.lastname@example.org 604-435-7977
GO TOREW.CA /NEWS
TO READ THESE STORIESAND MUCH MORE REAL ESTATE
NEWS AND ADVICE
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A common topic among real estate buyers is whether or not they should o er a price that is much lower than the listed price. Its an interesting concept, but one that is not without its pitfalls. Submitting an o er is one thing, but getting the o er accept-ed is another thing altogether. Lets take a look at three di erent factors to consider.
1) Be Certain You Fully Understand Market Conditions
In a market like Vancouver and the Lower Mainland we are often faced with an inevitable real-ity people really like living here. Sellers are more than aware of this, and are primed to take full advantage.
Having a look at comparable properties in the area that have sold going back as far as two years
(or further) will give you a good understanding of what the seller is expecting. Maybe theyve already priced it low to encourage multiple o ers or a quick sale? If thats the case, its likely they wont even submit a counter o er.
As real estate agents we are very much held to account by what the market will bear, and buyers and sellers are not immune to this either.
2) Make Sure You Are Willing To Negotiate
Starting will a low o er could be considered disrespectful or a bul-lying tactic. If thats the case, why not submit another o er slightly higher if you dont hear back from the seller? If the goal is to get the ball rolling on negotiations, being exible can enhance the likelihood
of this occurring.The #1 rule of real estate is to
not take things personally, so if you plan of submitting an o er that is substantially lower than the listed price, make sure you o er the seller something in return.
3) Your Offer Should Be As Clean As Clean Can Be
If price is your primary concern, then the other subjects in the o er should be valuable to the seller. Is o ering a quick possession of value? You never truly know some-ones motivation for selling for all you know this money could be keeping a business a oat or needed to bail a family member out of nancial trouble.
There is one thing that is con-stant throughout the world, and that is money makes it go round.
And cash is king! Use any superla-tive you want, but quick money can o er be a great thing to o er a seller. Excluding the nancing clause and o ering a large deposit will let the other party know you are serious and able to act quickly.
As a real estate agent in Vancouver I personally prefer to avoid lowball o ers, but a lot of agents who work with investors are more comfortable with this strat-egy. Its not my preferred way of doing business, but at the end of the day its always ultimately my clients decision whether or not they want to submit or accept an o er that is substantially lower than the listed price.
More real estate advice from local Realtor Barry Magee at his website livinginvancity.com
Is Lowball Offeringa Legitimate Buying Strategy?
2 REW.ca RICHMOND FRIDAY APRIL 3, 2015
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This beautiful 2 level house located in a quiet cul-de-sac, 4 generous bedrooms upstairs, all bathrooms, laundry room and family room have been renovated by Trendsetter HOmes. Large living room good for entertaining, designer colour paint, new siding, gutters and garage door in 2012. Extra wide & spacious backyard which includes natural gas line for BBQ and many more.
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REW.ca RICHMOND FRIDAY APRIL 3, 2015 3
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