Definition
A purchase offer significantly below asking price or market value, submitted as a negotiating tactic. Lowball offers can offend sellers and be rejected outright.
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Some buyers use lowball offers as an opening negotiation tactic, assuming the seller will counter with a higher price. However, lowball offers may be perceived as disrespectful and can damage the buyer-seller relationship. Successful lowball strategies typically require strong justification based on property condition or market analysis.
Pro Tip
Only use lowball offers if you have solid justification. Sellers respond better with factual reasoning.
Example
The buyer submitted a lowball offer of $350,000 on the $425,000 listed property, citing needed foundation repairs that an inspector had identified.