Low Ball Offer
- An offer made by a potential buyer that is well below the market bid.
unrealistic price, low offer, below fair market value, lowball, chintzy, cheap
Related Terms and Acronyms
- Appraisal — Definition,
- An estimate of the market value of a piece of real estate made by a competent professional who knows local real estate prices and markets.
- Appraised Value — Definition,
- An educated opinion of how much a property is worth.
- Backup Offer — Definition,
- A bid for a property that the owner will consider if the current transaction falls through.
- Bargain Sale — Definition,
- Transfer of property or an item for less than market value.
- Bidding War — Definition,
- Multiple, competing offers for a piece of property or item that escalate the price. Usually results in a happy seller.
- Counteroffer — Definition,
- Rejection of a purchase offer by submission of another offer with different terms (such as price or closing date). A step in the negotiating process.
- Current Market Value (CMV) — Acronym,
- The estimated price determined by the recent sale of similar properties.
- Earnest Money Deposit (EMD) — Acronym,
➥ A down payment.
- Money given by a buyer when making a formal offer to demonstrate that the buyer is serious. Also called a deposit.
- Fair Market Value (FMV) — Acronym, Very Important,
- The highest price that a buyer would pay for a property and the lowest price a seller is willing to accept.
- Market Value (MV) — Acronym, Important,
- Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
- Property Value — Definition,
- The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
- Seller's Market — Definition,
- Due to either low supply or high demand, the seller can expect to sell quickly with a high sale price.
- Valuation — Definition,
- The process of finding the worth of an asset or business.
- The estimation of a property's price value through an appraisal.