Definition
An offer significantly below asking price, typically submitted either by savvy investors testing motivated sellers or by delusional buyers who think every property is overpriced. It's a negotiating tactic that's either brilliant or insulting, depending on which side you're on.
Example Usage
I submitted a lowball offer of $340k on a property listed at $425k, fully expecting them to counter—or tell me to pound sand.
Origin
General negotiation terminology adopted by real estate, from carnival game slang
Fun Fact
In hot markets, lowball offers are about as welcome as a skunk at a garden party, but in buyer's markets, they're a legitimate strategy that occasionally works.
Source: Real estate negotiation terminology
Related Terms
Translate This Term
See “lowball” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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