Low ball offers
We live in an age when we have become accustomed to discounts. Whether it’s from Groupon, Living Social, Priceline or whatever your discount site of choice is, no one wants to be caught dead paying sticker price for anything.
So it’s no surprise that this has creeped into the home buying process as well.
But, depending on where you are interested in living in New Orleans, tossing out a low ball lets-see-what-sticks offer may get you nothing but regrets. Some of the neighborhoods (Lakeview, Uptown) are seeing multiple offers that push the final selling price above the asking price. Going in low is nothing but an exercise in frustration. Woulda, coulda, shoulda shouldn’t be how you are left feeling at the end of the day.
How to Avoid Disappointment When Buying A Home
Have your agent pull the most recent sales in the neighborhood and make an educated offer – not just one designed so that you can crow about the “deal” you got. Determine what homes are selling for, what concessions owners are giving and approach the offer making process with the knowledge that if you lose out to a higher bidder, it won’t be because you didn’t have all of the facts.