There are always some sellers who for some reason must sell quickly.
While a very low offer in a normal market might be rejected immediately, in a buyer's market the below-market offer will usually either be accepted or generate a counteroffer.
When few offers are being made, and outright rejection of offers becomes unlikely. While it is true that offers at or above full price are more likely to be accepted by the seller, there are other considerations involved.
- Is the offer contingent upon anything, such as the sale of the buyer's current house? If so, such an offer, even at full price, may not be as attractive as an offer without that condition. Is the offer made on the house as is, or does the buyer want the seller to make some repairs before close of escrow or make a price concession instead?
- Is the offer all cash, meaning the buyer has waived the financing contingency? If so, then an offer at less than the asking price may be more attractive to the seller than a full-price offer with a financing contingency.
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