Low Ball Offer

Definition

• An offer made by a potential buyer that is well below the market bid.

Synonyms
unrealistic price, chintzy, lowball, below fair market value, cheap, low offer

Alternate Spellings
Lowball, Low-ball

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,
  • Money given by a buyer when making a formal offer to demonstrate that the buyer is serious. Also called a deposit.
  ➥ A down payment.
• 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 estimation of a property's price value through an appraisal.
  • The process of finding the worth of an asset or business.