This Mornings question is "My home was listed less than 2 weeks ago, i have an offer but it is lower than my asking price. What should i do?" The first thing you should do i be happy you received an offer where many houses are not even receiving showings.
Hopfully you at BPO or appraisal on your home and set your asking price at or just below market value. You can never use a straight percentage of how much less than an asking price you should accept. Only you know what you need to sell your house for to move on, the rule of thumb is a house is only worth what a buyer is willing to pay for it. If you only have 1 offer work with that buyer, try a counter offer to get the price in the middle of what you were asking what they offered. Ask why the offered what they did, what did they base their offer on, take everything into consideration and either accept it or counter it, but dont just decline it.
I have seen many home owners decline their first offer only to never receive an offer that high again. There is no such thing as receiving an offer too fast, if the listing agent has done their job, your house is priced at or just below market value, the details of your house has been splashed all over the area to reach the most potential buyers and you have an offer rather quickly. If your house was priced higher, you may not even have anby lookers nevermind an offer.
Agents, seller or buyers what do you think?
Blog Updated Oct 17, 2010
Blog written by
Scott Godzyk
Godzyk Realty Group
Manchester NH
www.ScottSellsNH.com
Coldwell Banker Cascade Real Estate - Wenatchee, WA
Broker, ABR, VAMRES
Well an offer is just that... an offer. I agree a counter is always a good idea...no matter how low. We don't set the market and the sellers don't set the market...the market is...well the market. Lots of luck
Oct 17, 2010 03:21 AM
Howard Hanna - Avon Lake, OH - Avon Lake, OH
Realtor - Avon Lake, Avon, Bay Village, Westlake,
Great post and Perrin's comment is well said point too. The first offer could be the one that does that. But plan on a counter just to squeeze up a more if you are far from the value you set on the home. You should have a range you willl settle for in mind and if the counter is right there than you should not play too much with it. Most importantly is your range what you and your Realtor set in agreement,. Your Realtor will help you with that. It is very easy for a seller to be off on that range. Your Realtor has expertise on this.
Oct 17, 2010 03:51 AM
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents
Thank you for your comments Perrin. It is always frustrating when some sellers bcome very stubborn once an offer comes in, and refuse to work with or counter offer a buyer, after all getting an offer is what starts the selling pricess, it is what we work so hard to accomplish is bring in a potential buyer.
Oct 18, 2010 02:14 AM
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents
Stan i always try and give 3 prices, this is what you should ask, this is what buyers may offer and this is your probable sales price. thanks for the comment
Oct 18, 2010 02:18 AM
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Scott Godzyk
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Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 29 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Sales, Residential Properties, Condominiums, New Construction and Investment Properties.
Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.
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