Let’s face it, who doesn't love a good deal? We all scour for discount codes, hit the sales racks, and love a good bargain. Why wouldn't we try to score the same kind of deal when it comes to purchasing real estate? But in this crazy market, we are experiencing bidding wars and lightning-fast sales. Snagging a “deal” takes a more strategic approach and a keen eye. Today, I'm here to share some secret strategies for crafting a lowball offer that actually gets accepted, in a hot real estate market.

1. Patience is key: Focus on properties that have been on the market for at least 40 plus days. It is not worth your time to lowball a property or ask for large seller concessions when a home has only been on the market for a week or two. The seller will not accept anything less than what they are asking for, especially in a hot market. Seller’s will be more open to negotiation the longer they have been on the market, giving you a chance to present a compelling lowball offer.

1. Embrace Imperfections: There may be some unique features or something happening behind the scenes that is keeping a house from selling. Is it price, bad marketing, location, a quirky floor plan, neighbors, something wrong with the house (a combination of these)? Being open minded to these potential negative features could be your ticket to some instant sweat equity and a nice price reduction. 

1. Be the Ideal Buyer: To have a low ball offer taken seriously by the seller, all other terms must be impeccable. This means having your finances secured, a short inspection contingency, tight timelines, and working with the seller on any other unique needs they may have. Also, make sure you hire an agent who excels at communication and negotiating. Low ball offers must be handled with care and you do not want to appear difficult to work with. Offending the seller or the listing agent could ruin any chance at having your offer accepted.

1. Set Realistic Expectations: It is very important to have realistic expectations. Don't overestimate discounts you can get, sellers are most likely aware of market conditions. 10-20% off form the list price is what a seller will likely accept when considering a lowball offer.

If you are feeling discouraged in a hot sellers market, remember these strategies.  The key is to be strategic, patient, and adaptable.  By focusing on lingering  properties, embracing potential imperfections, and presenting a well-crafted offer, you'll be well on your way to winning your dream home – even at a discounted price!