Submitting a Lowball Offer 

There are a lot of scenarios in the current real estate market where a seller may face one of the more frustrating scenarios in the sale of their home, and that's the lowball offer. Re/Max Canada recently ran a study where they polled their large database of Facebook followers, where they asked buyers what their buying and bidding strategy would look like, 75% of polled / voting users responded by saying that they would "bid low!" 

While coming in low isn't always insulting, or unwarranted, there are many things you and your Calgary Real Estate Agent can do to make the chances of that offer come through with higher chances of success. 

Here's a list of five things to keep in mind when making a lower offer on a home for sale in the Calgary real estate market. 

1. Know and understand the Calgary market. 

Presently we're in a buyers market in Calgary, this means you're inherently facing less competition, seeing less multiple offer bids on homes, and therefore more negotiating power! While in a sellers market, you have a higher demand for homes, especially ones that are priced accurately, and face stiffer competition as a buyer. Work closely with your local Calgary REALTOR® to truly determine whether the home you're looking to make an offer on is priced correctly. Just because a home is listed at a certain price, a comparative market analysis might offer a more clear and concise picture on what homes in the area have sold for in recent times, allowing you to act accordingly! 

2. How many days on the market? 

How long has the home you've got your eye on, been on the market for? As a home goes from sitting days, to weeks, to months on the market, the sellers desperation could slowly start to grow, and depending on their personal situation the seller potentially could be more open to accepting a lower offer than asking. There are other factors to consider when looking at a homes days on market, the condition of the home could drive it to be there longer, it's pricing in comparison to other comparable properties, or the seller could simply be stubborn and unwilling move on their price as their motivations to sell could be limited. 

3. Knowing and understanding the seller.

If your Calgary real estate agent is able to get insight into the sellers motivations for selling, you are better posed in crafting your offer against their situation. For example, finding out a seller has already purchased another home, means that they're facing two mortgage payments, two utility bills, two insurance bills, etc the property could be paid off or inherited meaning the sellers are less likely to be looking for maximum profits on the sale. All these factors drive the end result, which is how much you can get the home for, knowledge is power in negotiations and your agent should be willing to ask these questions to gain a competitive edge for you. 

4. Sweetening a lower offer with a pristine and clean offer. 

Consider this, a quick, painless, sale could be the exact remedy a seller is seeking. Offers with lengthy conditions, complicated conditions (i.e. you having to sell your house first) or multiple conditions (financing, inspections, etc) are all blockades and could ultimately keep the home on the market for weeks. Coming in ultra prepared, or in a stable financial position can really make the difference, we consistently see offers accepted for lower amounts than competing bids, simply because those offers are stronger in every other way. 

Watch Adam Dawes breakdown how to submit a real estate offer in Calgary

5. Go low, but don't insult the sellers. 

If you're prepared to put an offer for 20% off asking price, knowing the home is only priced a few thousand off it's fair market value price, you're ultimately running the risk of annoying the sellers and making your unreasonable offer the last offer they consider from you. In some situations, a really low initial offer will actually hurt your position as the sellers can sometimes dig their heels in deep and instead of negotiating based on merit and numbers, they'll negotiate based on the negative emotions they felt from the initial offer. 

Consult with a Real Estate Partner Real Estate Agent with Re/Max First today by calling 587-578-7653 and setting up a strategy call to determine the best negotiation methods for your current real estate needs! 
Re/Max First Real Estate Listings

RE/MAX First Homes For Sale

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5912 Dalton Drive Nw, Calgary

$478,000

5912 Dalton Drive Nw, Calgary

4 Beds 2 Baths 1,047 SqFt Residential MLS® # A1164163

RE/MAX FIRST

New
124 Copperpond Rise Se, Calgary

$450,000

124 Copperpond Rise Se, Calgary

3 Beds 4 Baths 1,412 SqFt Residential MLS® # A1163637

RE/MAX FIRST

New
3823 Centre A Street Ne, Calgary

$484,900

3823 Centre A Street Ne, Calgary

6 Beds 2 Baths 1,029 SqFt Residential MLS® # A1163825

RE/MAX FIRST

New
276 Cove Drive, Chestermere

$475,000

276 Cove Drive, Chestermere

3 Beds 2 Baths 1,985 SqFt Residential MLS® # A1163836

RE/MAX FIRST

New
281236 Range Road 42, Rural Rocky View County

$899,900

281236 Range Road 42, Rural Rocky View County

4 Beds 3 Baths 2,552 SqFt Residential MLS® # A1163788

RE/MAX FIRST

New
66 Sienna Park Place Sw, Calgary

$695,900

66 Sienna Park Place Sw, Calgary

6 Beds 4 Baths 2,371 SqFt Residential MLS® # A1163229

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New
1028 21 Avenue Se, Calgary

$490,000

1028 21 Avenue Se, Calgary

4 Beds 2 Baths 884 SqFt Residential MLS® # A1163735

RE/MAX FIRST

New
636 55 Street Se, Calgary

$310,000

636 55 Street Se, Calgary

4 Beds 2 Baths 860 SqFt Residential MLS® # A1162515

RE/MAX FIRST

New
202 Reunion Green Nw, Airdrie

$542,825

202 Reunion Green Nw, Airdrie

6 Beds 4 Baths 2,469 SqFt Residential MLS® # A1162530

RE/MAX FIRST

New
245179 Range Road 283, Rural Rocky View County

$1,295,000

245179 Range Road 283, Rural Rocky View County

3 Beds 3 Baths 2,473 SqFt Residential MLS® # A1159697

RE/MAX FIRST

New
17 Banded Peak View, Okotoks

$1,064,000

17 Banded Peak View, Okotoks

3 Beds 3 Baths 1,550 SqFt Residential MLS® # A1163014

RE/MAX FIRST

515 Railway Avenue Ne, Langdon

$495,500

515 Railway Avenue Ne, Langdon

3 Beds 3 Baths 1,529 SqFt Residential MLS® # A1161874

RE/MAX FIRST

6408 19 Street Se, Calgary

$488,000

6408 19 Street Se, Calgary

5 Beds 3 Baths 1,362 SqFt Residential MLS® # A1162689

RE/MAX FIRST

707 Madison Avenue Sw, Calgary

$975,000

707 Madison Avenue Sw, Calgary

3 Beds 2 Baths 1,174 SqFt Residential MLS® # A1161643

RE/MAX FIRST

6108 Longmoor Way Sw, Calgary

$720,000

6108 Longmoor Way Sw, Calgary

4 Beds 3 Baths 1,408 SqFt Residential MLS® # A1162114

RE/MAX FIRST

32571  Rge Rd 52, Rural Mountain View County

$820,000

32571 Rge Rd 52, Rural Mountain View County

5 Beds 4 Baths 2,119 SqFt Residential MLS® # A1162166

RE/MAX FIRST

27 Bedford Circle Ne, Calgary

$439,000

27 Bedford Circle Ne, Calgary

5 Beds 3 Baths 1,197 SqFt Residential MLS® # A1160937

RE/MAX FIRST

9 Red Willow Crescent W, Rural Foothills County

$1,175,000

9 Red Willow Crescent W, Rural Foothills County

5 Beds 3 Baths 2,026 SqFt Residential MLS® # A1160354

RE/MAX FIRST

1124 8 Street Se, Calgary

$525,000

1124 8 Street Se, Calgary

3 Beds 1 Bath 1,052 SqFt Residential MLS® # A1159670

RE/MAX FIRST

226 Kincora Place Nw, Calgary

$615,000

↓ $10,000

226 Kincora Place Nw, Calgary

4 Beds 4 Baths 1,962 SqFt Residential MLS® # A1161043

RE/MAX FIRST

239 Boulder Creek Bay Se, Langdon

$700,000

239 Boulder Creek Bay Se, Langdon

3 Beds 3 Baths 2,736 SqFt Residential MLS® # A1158538

RE/MAX FIRST

1905 Mountview Crescent Ne, Calgary

$499,900

↓ $10,000

1905 Mountview Crescent Ne, Calgary

3 Beds 2 Baths 892 SqFt Residential MLS® # A1159994

RE/MAX FIRST

431 3 Avenue Ne, Calgary

$599,900

431 3 Avenue Ne, Calgary

3 Beds 2 Baths 1,885 SqFt Residential MLS® # A1160136

RE/MAX FIRST

140 Clausen Crescent, Fort McMurray

$175,000

140 Clausen Crescent, Fort McMurray

3 Beds 2 Baths 1,203 SqFt Residential MLS® # A1160296

RE/MAX FIRST

61 Legacy Glen Green Se, Calgary

$450,000

↓ $5,000

61 Legacy Glen Green Se, Calgary

3 Beds 3 Baths 1,477 SqFt Residential MLS® # A1152001

RE/MAX FIRST

147 Auburn Sound Circle Se, Calgary

$975,000

↓ $23,880

147 Auburn Sound Circle Se, Calgary

5 Beds 3 Baths 2,607 SqFt Residential MLS® # A1159643

RE/MAX FIRST

304 12 Avenue Nw, Calgary

$700,000

304 12 Avenue Nw, Calgary

3 Beds 2 Baths 1,091 SqFt Residential MLS® # A1159762

RE/MAX FIRST

1103 Belavista Crescent Sw, Calgary

$1,690,000

↓ $60,000

1103 Belavista Crescent Sw, Calgary

5 Beds 4 Baths 2,701 SqFt Residential MLS® # A1159393

RE/MAX FIRST

33026 Mountain Glen View, Rural Rocky View County

$1,650,000

33026 Mountain Glen View, Rural Rocky View County

7 Beds 6 Baths 4,747 SqFt Residential MLS® # A1155088

RE/MAX FIRST

620 Seymour Avenue Sw, Calgary

$450,000

620 Seymour Avenue Sw, Calgary

4 Beds 2 Baths 1,079 SqFt Residential MLS® # A1159100

RE/MAX FIRST

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