Here’s the painful truth: home sellers who do not price their property competitively are the most likely targets of lowball offers. In soft markets, buyers are more prone to make low offers on real estate listings seen to be overpriced. Listings that don’t sell usually require price reductions. That means a seller could wind up accepting a lower offer than if he had priced aggressively from Day One.
Since selling your home can be such an emotional and subjective experience, it’s easy to understand why you’d be reluctant to counter an offer below your asking price. But instead of feeling insulted, try to see it as the beginning of a dialogue that could ultimately produce the goal you want - a sale.
If you feel any of the terms or conditions of the offer are unacceptable, ask your real estate agent to present a counter-offer. Sometimes buyers and sellers don’t really know ahead of time what price they will be willing to accept until after negotiations begin. For example, a property buyer might agree to a higher price than planned if interest rates suddenly drop.
If you have received a lower than expected offer for your home, but the buyers have proven their qualifications and commitment by securing loan pre-approval, you have grounds for serious consideration. The process of counter-offering can be swiftly settled or carry on ad nauseam. Be prepared to explore all options and act quickly before letting your negotiations fail.
Download this report to learn more benefits of proper home pricing.
Mike Morgan
Coldwell Banker Real Estate
“For Every Move You Make"
Whether you want to buy or sell a home in Miami, Palmetto Bay, Pinecrest, Dadeland Walk, South Miami, Coral Gables or Cutler Bay, you can depend on the Morgan team of realtors to assist you every step of the way during your real estate transaction.
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