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We Received a Low Low Offer ... What Should We Do?
Congratulations on getting an offer!  Something you and your agent are doing must be right for a Buyer to find your home and think enough of it to make an offer to buy it.  Now...what to do with it?  Low offers often create emotion and frustration.  Nothing will be accomplished if you get mad at the Buyer.  Buyers are doing the best they can for themselves ... like you and your agent will do for you on your side of the negotiations.
The first thing to do is to assess the Buyer's motives.  Is this a Buyer that is reaching, hoping to buy your home at a price he can really afford?  Such a Buyer reaches beyond his means, but with a little luck, and your price acquiescence, he can enjoy such a home one "upgrade" sooner than he would otherwise be able to.  This Buyer is maxed out at the low offer price.
Other Buyers are simply "bottom fishing", looking for the deal of a lifetime.  They are going to offer low regardless of how well you are priced.  This type of Buyer uses your list price as a starting point rather than looking at where you are priced relative to the ... more

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