What to do if you get a low offer on your home?

Posted on: August 14th, 2018

If you take care to price your home correctly – that is, at a price that is in line with what similar properties in the area have sold for recently – then you have a good chance of selling it at or near your asking price.

That doesn’t mean you won’t get a low-ball offer. You might. So, what do you do when that happens?

First, understand that the buyer may not necessarily be trying to steal away your home at a bargain-basement price. He might simply be mistaken about its true market value. Of course, he might also be coming in at a low price in the hopes he’ll get lucky.

You will never actually know the buyer’s motives. So, it would be a mistake to get angry or dismiss the offer out-of-hand. That low-ball offer might end up being the beginning of a negotiation that results in the sale of your home at a good price.

Your first step is to work with me to determine:

  1. Whether the buyer is serious.
  2. Whether the buyer is qualified. (For example, does he or she have a pre-approved mortgage?)
  3. How amenable the buyer is to a counter-offer that reflects the true market value of your home.
  4. What that counter-offer should be.

This isn’t an easy process. It takes the knowledge and experience of a professional real estate broker like myself to get it right. Let me walk you through the process when it is time to sell your home.

Please get in touch with me if you are thinking about selling your home in the near future OR if you are just curious to know what your home is worth in today’s market!

 

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