When to Make a Lowball Offer in Alaska Real Estate
Everyone loves a good deal— especially when it comes to real estate! However, in today's real estate market, actually purchasing a home for under asking price can be a rare occurrence. Real estate agents in Alaska—and all over the country, for that matter—typically advise against making lowball offers as you could risk offending the sellers and lose out on the home entirely.
But does that mean it can't be done? No! With the right expert on your side and under the right conditions, you can successfully make a lowball offer on a home in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or North Pole. Below are four scenarios that would call for making a low offer:
The home is outdated
Home sellers in Alaska can turn a blind eye to the outdated features of their property simply because of their emotional ties to it, but that shag carpet could just signal the right time to make a low offer. If the home has been listed for several months with no activity and its wallpaper is older than you are, you might like to work with your agent to determine how low you can go.
The home was just re-listed— again
When an Alaskan home is on and off the market several times, you can bet the home seller is ready to find a buyer. After all, so much goes into listing a property from pricing to open houses to showings. Ask your agent if they can gather more information about the owner and the reason behind their listing and re-listing. In some cases, it could be that they don't truly want to sell.
The home is overpriced
This may seem contradictory, offering less than asking price when a home is priced on the high end, but it could be just the scenario that lands you a great deal. Many times homeowners can think their property warrants a sky-high price, and yet the comps in the area say otherwise. Have your agent pull a list of comps and if the price is just not realistic, you could come in with your lowball offer.
The seller is desparate
Dozens of motivating factors can cause a homeowner in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, or North Pole to accept a lowball offer. Perhaps they are close to defaulting on their loan, maybe they have a new job they need to relocate for by a certain date, or their home has been on the market longer than they expected. Your agent can often do a little digging to find out the cirumstances to help you form the best offer.
Ready to make a move in Alaska? Contact Madden Real Estate today!
We even have a Love It or Leave It Guarantee that ensures if you buy a home through us, and you are not completely happy with with your new home, then we will list it for free while you search for a home that you love.