Anonymous wrote:My favorite is when a house has been in the market with no activity, you make an offer and suddenly there are multiple offers with interest. Yeah right.
To be fair (and not defending realtors here), sometimes realtors lie and make up competing offers and sometimes they reach out to anyone who might be interested to drum up competition because the seller doesn't like the offer on the table.
Making lowball offers can sometimes get you a better price and sometimes result in a higher price. My mom foolishly made an insultingly low offer. The seller's agent reached out to another prospective buyer who had seen the home but not made an offer. Then my mom had competition, or at least that's what she was told. She really wanted the home so she ended up paying over list price. If she had just made an offer a little below list and negotiated, then she wouldn't have had this problem. I was pissed that she didn't consult me first.
Lowball offers are for houses you don't care whether you get or not. Don't lowball if you really want the house.