Let’s clear something up, 10% below asking price isn’t low-ball. That’s a legit beginning offer even if the asking price is at the real market.
A low-ball offer IMHO, is something that is 20% or more below the market. And the market is the real price houses are selling at with all the under the radar kick-backs in it like paying closing costs, points, etc.
In the current market, that means a low-ball offer can literally be 40% below asking price. There are plethora of homes out there that are looking at the price from last year and adding 20-25% to it when it is literally 10% below it. So for example, if the home last year was $512, they’re asking $620 the real market is at at ~$460 with a fair starting offer at $414. A lowball comes in below that say $370 or so.
