The difficult real estate market has many people on edge; particularly those trying to sell their
Jacksonville homes. It can be downright infuriating for many home sellers to receive lowball offers.
Your first instinct may be to simply reject the offer out of anger, but that may not be in your best interest, especially if there is a lack of buyers in your area.
Instead, you may want to take a step back, take a deep breath and plan your strategy.
- The first thing you may want to do when you receive a lowball offer is to ask the buyer's agent the buyer's reasoning behind the lowball offer. This may provide you with some insight regarding what the buyer is thinking. It will also help you when making your counter offer. Many buyers, because they know they are in a position of strength, may make lowball offers just because they think they can. Asking for particular reasons why they made the offer may just bring them back to reality and cause them to rethink their position.
- The next thing you'll need to do is determine exactly what you need to get out from under your current home loan. In other words, you should have a drop-dead bottom price that you simply can not go below.
- Finally, begin the negotiation process with the buyer. It simply makes no sense to walk away from a possible sale because of your anger over a lowball offer, especially given the fact that a buyer's market still exists. Counter the buyer's offer and give an explanation regarding why you think this price is fair. It is important to remember that many buyers will submit a lowball offer simply to see what they can get away with. If you remain firm regarding your sales price, and make it clear that you are not prepared to accept a lowball offer, then it is up to the buyer to either: (a) walk away from the negotiating table or (b) submit a more reasonable offer.
;)
;)
