What is a Low ball offer

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Lowball offer - I am sure most of us in BP heard this term.

Is there a definition of lowball offer?

If i offer 10% less or 20% less it is a lowball offer?

Is the definition different in each market and sub-market?

Do the sellers, buys, real estate agents have different definition of low ball offers?

What you would consider as a low ball offer based on your experience and the transactions that you have made?

[Thomas S.]

I would not wait. You can not read a sellers mind. If you are interested in a property you make a offer based on what you are willing to pay. Then if they do not take it you at least have it out there and can wait till the cows come home for the seller to either come back to you or find a buyer willing to pay more than you are willing to pay. You ignore any counter unless it is acceptably close to your offer.

Remember as the buyer you are in control of what any given property is worth to you. Buying any property is not really a negotiation it is you paying only what you decide a property is worth or walking away.