Sellers feel insulted when buyers make low ball offers. They love their home and feel it is worth what they are asking. Buyer agents should advice their buyers that when they make a low ball offer they risk not receiving a counter offer. There are many sellers who are not distressed sellers and need not sell the house. It is OK to make a low offer based on comps provided by your agent but if the offer is just based on the theory that you should offer Fifty cents on the Dollar buyers should be prepared to lose the opportunity to buy the house or to come back with a reasonable offer which will get you a counter offer .
My advice to sellers : Do not take it as a personal insult. Buyers get advice from others, read books , newspaper etc or watch TV shows that suggests that homes are selling for fifty cents on the dollar and they truly believe it. They do not trust their agent when the agent suggests a price. The buyer's agent has to write the agreement of sale and your agent has to present all offers. You can do one of three things when you receive an offer.
a. Reject the offer and not make any counter offer.
b. Reject the offer but make a counter offer.
c. Accept the offer.
It is a good idea to make a counter offer to keep the negotiations going even if it is asking just a few hundred dollars less than your original price. At the same time make sure you negotiate all the other contingencies mentioned in their offer.
I have found that some sellers forget to address other matters like closing date, items included with the sale, etc. After the price has been agreed on we suddenly find ourselves negotiating closing dates or other buyer requirements.
If you do not make a counter offer you may have to wait to see if the buyer will indeed come back.
You have an emotional investment in your home but buyers do not have any. They are looking to get a bargain. If they are investors they are looking for a steal. You do not have to let them steal it from you but make a small adjustment in price to find out whether they are serious buyers.
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