If you get a lowball offer on your home, you have a few options on how to handle it. Let’s discuss.
Today we’ll be discussing how to respond to a lowball offer on your home and what options you have.
The first step is to ask yourself if your home is priced accurately. If you list with me, we will use statistics and data based on the market values of the area to agree on an asking price, so we’re not going to be too far out of range of what it’s actually going to sell for.
If the home is properly priced, then we’ll analyze the offer to see how genuine the buyer is and to determine if they’re just testing the waters or tossing out something unrealistic.
If it is a sincere buyer, then we would want to submit a counteroffer and engage them in a negotiation. Often when a buyer puts pen to paper and submits a contact, that’s the first sign they really like your home and they’re trying to see what they can get and what they can get away with.
Lastly, if we find out this is an unrealistic buyer, we will respectfully decline the offer.
If you have any questions about buying or selling a home, give me a call or send me an email. I would love to help you.