Most home sellers have a pretty negative view of lowball offers but they shouldn’t. Here’s why.
When you list your home on the market, it’s not uncommon to receive a lowball offer, meaning an offer that’s much lower than your asking price. If you do receive one, here’s what you should do:
First, don’t get emotional. Don’t let a lowball offer upset or aggravate you. Instead of getting offended, take the opportunity to use the offer as a starting point for negotiations.
“We can always move on if an agreement can’t be reached.”
Next, send a counteroffer. This is a business transaction and we want to get the most we can for the home, so we should always respond to lowball offers. They’re not usually made maliciously, and you’d be surprised at how some buyers respond. We can always move on if an agreement can’t be reached.
One important thing to keep in mind is that buyers are not masters of the market. They don’t study the market like we do. We take the time to look at the market, look at your home, and strategically price it to reflect its value in the current circumstances. It’s important to look at the numbers, what’s realistic, and always counter when someone sends an offer.
If you have any other questions for me about lowball offers or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.