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November 22, 2008 11:27:38 CST

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Stealing Home: Five Signs It's Time to Lowball

Posted Jun 20, 08 1:18 PM CDT in Business 

(Newser) – It's not always the economy, stupid. Even in a weak market, buyers should consider a homeowner's situation before hurling a lowball bid, writes Daniel McGinn in Newsweek. One real estate broker offers five sure signs that a seller is ready to deal:

  1. Nobody's home. Sellers who have moved on, or will soon, probably want to unload the property fast.
 

  1. The list price hasn't dropped for 90 days. The seller isn't seeing much action and might bargain just to get an offer.  
  2. The homeowner has high equity. The less a seller owes on a mortgage, the more flexible they can be.  
  3. It's the last empty house on the block. Builders would rather close a sale than hang on to the last unsold home in a new development.  
  4. The property is fodder for a divorce or estate sale. Dueling exes will haggle to get things moving, and inheritors see free money at any price.

Source Newsweek

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Sellers who have already moved probably want to unload the property fast.   (AP Photo)
Even in a weak market, buyers should consider a home owner's situation before making a lowball bid.   (Getty Images)
Builders would rather close a sale than hang on to the last unsold home in a new development.   (Getty Images)
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