Offer and Counteroffer: The Three Types of Offers
Buyers can make three kinds of offers:
- Lowball. The offer is ridiculously below what the seller is asking. The hope is that the seller will counter at a compromise price.
- “Close to asking. ” The buyer simply wants the property and is willing to pay the seller’s price. However, the buyer is hoping the seller will come down a little rather than chancing that the seller will simply reject the bid or counter.
- Compromise. The offer is somewhere in between, because the buyer is looking for a series of counters.