Buyer: “My Offer is (WAY) Below Your Asking Price Because . . .”
It’s no sin trying to buy a home at a discount.
Of course, especially in a strong Seller’s market, such a strategy has almost no chance of succeeding . . . but there’s no harm in trying (as they say).
What I wouldn’t recommend doing is trying to justify a low offer on a newly-listed, well-priced home with a bogus rationale that’s likely to annoy (or worse) the Seller.
Adding Insult to Injury
Here are variations on a couple
excuses justifications I’ve heard in just the last few months (note: I’m embellishing, but only a little — and no, the reasons are not mutually exclusive):
Prospective Buyer (via their agent) to Seller: “I love your home, but I’m offering $25k – $50k below your asking price because . . .
–“The home’s windows are the wrong size” (My response: “Huh?!?!”).
–“I need a reserve for a new roof” (that, on a home with a middle-aged roof in perfectly good condition; a completely new roof would have cost about $15k).
–“All the window treatments need to be replaced” (even if that were true — and it wasn’t — a reasonable budget for that would have been < $5k).
–“The granite Kitchen counters are the wrong shade of gray.”
Needless to say, none of the offers led to a consummated Purchase Agreement.
But, in at least two cases, the bogus offers helped flush out the real Buyer . . .
See also, “What Lowball Offers Really Accomplish.”