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Stealing Home: Five Signs It's Time to Lowball

Forget the market and climb inside the seller's head
By Michael Foreman,  Newser Staff
Posted Jun 20, 2008 1:18 PM CDT
Stealing Home: Five Signs It's Time to Lowball
Sellers who have already moved probably want to unload the property fast.   (AP Photo)

(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.
 

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  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.
(Read more lists stories.)

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