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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3827 Centre B Street Nw, Calgary

$699,900

3827 Centre B Street Nw, Calgary

1 Bed 1 Bath 1,045 SqFt Residential MLS® # A2117263

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47 Fairmont Road S, Lethbridge

4 Beds 3 Baths 1,508 SqFt Residential MLS® # A2111943

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$639,900

8016 33 Avenue Nw, Calgary

4 Beds 2 Baths 1,202 SqFt Residential MLS® # A2117412

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16 Evergreen Square Sw, Calgary

$799,900

16 Evergreen Square Sw, Calgary

3 Beds 3 Baths 2,455 SqFt Residential MLS® # A2117693

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3 Westpark Place Sw, Calgary

4 Beds 5 Baths 3,191 SqFt Residential MLS® # A2117279

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$775,000

346 Banister Drive, Okotoks

4 Beds 4 Baths 2,159 SqFt Residential MLS® # A2117348

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436 Wilverside Way Se, Calgary

5 Beds 3 Baths 2,261 SqFt Residential MLS® # A2116670

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2824 1 Avenue Nw, Calgary

$799,900

2824 1 Avenue Nw, Calgary

3 Beds 3 Baths 1,406 SqFt Residential MLS® # A2117049

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90 Mahogany Passage Se, Calgary

$849,900

90 Mahogany Passage Se, Calgary

4 Beds 4 Baths 2,302 SqFt Residential MLS® # A2116787

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5 Westmore Place Sw, Calgary

$1,299,900

5 Westmore Place Sw, Calgary

4 Beds 4 Baths 2,412 SqFt Residential MLS® # A2117012

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39 Everwoods Park Sw, Calgary

$750,000

39 Everwoods Park Sw, Calgary

3 Beds 4 Baths 2,033 SqFt Residential MLS® # A2115286

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32087 393 Avenue E, Rural Foothills County

$1,100,000

32087 393 Avenue E, Rural Foothills County

3 Beds 3 Baths 1,612 SqFt Residential MLS® # A2115970

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252 Coral Shores Bay Ne, Calgary

$759,900

252 Coral Shores Bay Ne, Calgary

4 Beds 3 Baths 1,651 SqFt Residential MLS® # A2116611

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229 Wood Valley Place Sw, Calgary

$795,000

229 Wood Valley Place Sw, Calgary

5 Beds 3 Baths 1,979 SqFt Residential MLS® # A2116072

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13903 Deer Run Boulevard Se, Calgary

$750,000

13903 Deer Run Boulevard Se, Calgary

4 Beds 4 Baths 1,975 SqFt Residential MLS® # A2116424

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2414 22 Street, Nanton

$270,000

2414 22 Street, Nanton

3 Beds 1 Bath 1,256 SqFt Residential MLS® # A2114185

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222 Berens Place, Fort McMurray

$439,900

222 Berens Place, Fort McMurray

4 Beds 3 Baths 1,496 SqFt Residential MLS® # A2115637

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130 Masters Terrace Se, Calgary

$900,000

130 Masters Terrace Se, Calgary

4 Beds 4 Baths 2,491 SqFt Residential MLS® # A2115599

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552 Firelight Place W, Lethbridge

$563,900

↓ $1,000

552 Firelight Place W, Lethbridge

4 Beds 4 Baths 1,770 SqFt Residential MLS® # A2116060

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112 Ranchview Court Nw, Calgary

$599,900

112 Ranchview Court Nw, Calgary

5 Beds 2 Baths 984 SqFt Residential MLS® # A2111239

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42 Springbank Rise Sw, Calgary

$898,000

42 Springbank Rise Sw, Calgary

3 Beds 4 Baths 2,292 SqFt Residential MLS® # A2115465

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16 Copperstone Landing Se, Calgary

$700,000

16 Copperstone Landing Se, Calgary

4 Beds 4 Baths 1,728 SqFt Residential MLS® # A2114945

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10608 Willowind Place Se, Calgary

$1,195,000

10608 Willowind Place Se, Calgary

4 Beds 3 Baths 1,745 SqFt Residential MLS® # A2114097

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1508 Evergreen Hill Sw, Calgary

$1,299,999

↓ $25,000

1508 Evergreen Hill Sw, Calgary

5 Beds 4 Baths 2,559 SqFt Residential MLS® # A2114509

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311 Dieppe Boulevard S, Lethbridge

$1,099,000

311 Dieppe Boulevard S, Lethbridge

4 Beds 5 Baths 2,545 SqFt Residential MLS® # A2110168

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207 Hawk's Landing Rise, Priddis Greens

$1,649,000

207 Hawk's Landing Rise, Priddis Greens

3 Beds 4 Baths 3,543 SqFt Residential MLS® # A2112009

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31 Cimarron Estates Way, Okotoks

$1,149,000

31 Cimarron Estates Way, Okotoks

4 Beds 3 Baths 1,887 SqFt Residential MLS® # A2113228

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30 Birch Glen, Okotoks

$649,900

30 Birch Glen, Okotoks

3 Beds 3 Baths 1,081 SqFt Residential MLS® # A2112637

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260064 Bearspaw Road, Rural Rocky View County

$1,299,900

260064 Bearspaw Road, Rural Rocky View County

4 Beds 4 Baths 2,084 SqFt Residential MLS® # A2113083

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143 Wood Valley Bay Sw, Calgary

$569,900

143 Wood Valley Bay Sw, Calgary

5 Beds 4 Baths 1,937 SqFt Residential MLS® # A2112569

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