This is a spoken subject, often not welcome in the sellers market. Low balling, to many is not something that sounds sweet to the ears, especially for the seller who have unreasonably set their houses at firing prices and for the agents who have promised to get those houses sold at their listed prices. However, low balling is a wonderful instrument for Cayman property buyers. It is a way in which you can somehow bring down the sellers to a price range at which you wish to buy a property.
Most sellers in Cayman Real Estate, are well educated about the tendency of buyers. Hence, listing prices are always set a bit above the expected selling price. Any buyer as such, needs a do a bit of low balling. The game of low balling however works best under certain circumstances and not equally well in others. You can say it is a game of luck, but somewhere it is about art and about staying informed.
The foremost necessity is to keep an eye on the seller's market. People, who have recently got their properties listed on the MLS system, are bad candidates to try for low balling. They would not go by your norms, for sure. Maintain this, even if you have fallen in love with their displayed property listing.
Scan for properties that are at least 30 days old. Owners, whose properties get a bit old, tend to slash down prices a bit. Down balling works best with them. Third, look out for properties that have expired. If you are already feeling something creepy inside you, drop it! Expired properties are not bad properties. The kind of market that Cayman Real Estate is, no property can actually be tagged as bad property. Properties expire because most of the time, owners exaggerate the the prices to huge levels. It is here that you can place the floweriest display of your low balling techniques.
Sometimes, low balling gives a win-win situation for both the sellers as well as the buyers. It is upon both the entities to make sure that the deal does not fall extremely harsh on any one.
Most sellers in Cayman Real Estate, are well educated about the tendency of buyers. Hence, listing prices are always set a bit above the expected selling price. Any buyer as such, needs a do a bit of low balling. The game of low balling however works best under certain circumstances and not equally well in others. You can say it is a game of luck, but somewhere it is about art and about staying informed.
The foremost necessity is to keep an eye on the seller's market. People, who have recently got their properties listed on the MLS system, are bad candidates to try for low balling. They would not go by your norms, for sure. Maintain this, even if you have fallen in love with their displayed property listing.
Scan for properties that are at least 30 days old. Owners, whose properties get a bit old, tend to slash down prices a bit. Down balling works best with them. Third, look out for properties that have expired. If you are already feeling something creepy inside you, drop it! Expired properties are not bad properties. The kind of market that Cayman Real Estate is, no property can actually be tagged as bad property. Properties expire because most of the time, owners exaggerate the the prices to huge levels. It is here that you can place the floweriest display of your low balling techniques.
Sometimes, low balling gives a win-win situation for both the sellers as well as the buyers. It is upon both the entities to make sure that the deal does not fall extremely harsh on any one.
