How To Handle A Low Ball Offer

Reblogger Anthony Acosta - ALLATLANTACONDOS.COM
Real Estate Broker/Owner with Harry Norman, REALTORS® #331379

Thank you Amanda S. Davidson 

Original content by Amanda S. Davidson 0225221517

How To Handle A Low Ball Offer

Low ball offers are frustrating to homeowners and can be one of the top challenges when selling a home. Most, if not all homeowners have a certain amount they want to sell their home for and when an offer rolls in that’s $15,000 - $20,000+ less than asking it can be downright infuriating.

 

 

Real estate transactions have hurdles to work through and they’re not all easily put together. Negotiation is a part of real estate and it’s a regular occurrence for there to be back and forth between the buyer and seller before mutually agreeable terms are found. A low ball offer can be the start of negotiation but, it requires the proper steps be taken in order to turn that offer into something that’s acceptable for the seller and the buyer.

 

If you are selling your home and have received a low ball offer take a deep breath and consider the following advice on how to handle a low ball offer in real estate.

 

Why Do Buyers Make Low Ball Offers?

From trusting Zestimates or thinking the house isn’t worth what it’s listed for, to taking advice from their agent or family and friends there are a plethora of reasons buyers make low ball offers. Some buyers just like to throw something up against the wall to see if it will stick, testing the waters if you will.

 

How To Handle A Low Ball Offer In Real Estate

Control Your Emotions

Easier said than done, I know but, remind yourself this is a business transaction and emotions don’t mix well with business. Letting your emotions take control is only going to cause you more stress. A low ball offer might make you want to tell the buyer to pound sand however before you do that remind yourself that the offer is just a starting point.

 

The goal is to sell your home and if you tear up the low ball offer and trash it you’re not going to be any closer to achieving your end goal.

How To Handle Low Ball Offers In Real Estate 

Always Respond With A Counter

If you don’t respond to a low ball offer you have zero chance of finding common ground and coming to agreeable terms. On the flip side if you counter there is always a chance through negotiation all parties will come to terms.

 

There are different strategies when countering a low ball offer.

 

Going back at full price is one that is very common to send a signal to the buyer that you aren’t messing around. This is not the best negotiation strategy in my opinion because it could deter the buyer altogether.

 

A strategy I’ve found to be more successful is to respond with the lowest and final price you are willing to accept. Taking this route can eliminate back and forth with the buyer and shows them you are serious about selling but, not at a low ball price.

 

Whatever strategy you opt to take always, always, always counter a low ball offer.

How To Handle Low Ball Offers In Real Estate 


Review All Of The Terms In The Offer

Price is just one factor of an offer and while it’s an important one it’s not the only component to look at. There are other contingencies and terms in a purchase offer and when you’re deciding how to respond you want to look at each detail closely.

 

What other terms should you consider?

→Seller Concessions

→Earnest Money Deposit

→Inspection Contingencies (home inspection, radon, and termite in Virginia)

→Appraisal Contingency

→Financing Contingency or Cash Buyer

→Closing Date

 

It’s never just as simple as price when it comes to a purchase offer in real estate. An offer is a total package and while the price is often what you first look at it’s not the only term to consider.

 

Look To Your Realtor For Guidance

Low ball offers are just one of many reasons it’s imperative to hire a top Realtor to sell your home. If you are working with a pro a low ball offer is just another day at the office. Your Realtor will be able to guide you on how best to respond and remain calm and professional. Rely on your Realtor for advice and allow them to be your advocate.

 

Closing Thoughts On Low Ball Offers

You’re not the first seller to receive a low ball offer and you definitely won’t be the last. Take a deep breath and remove your emotions when it’s time to consider how you want to counter. Your end goal is selling your home and making that your priority is what matters most.

 

 

 

 

Amanda Davidson Real Estate Group

 exp realty

 

 

      

 

AMANDA DAVIDSON  
l ASSOCIATE BROKER l  
l AMANDA DAVIDSON REAL ESTATE GROUP BROKERED BY eXp REALTY l

C  703.431.3755   |   O  703.988.3151  |   W  www.amandadavidson.com

A  20130 Lakeview Center Plaza #400 Ashburn, Va 20147




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Rainmaker
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Thank you for your original blog Amanda S. Davidson 

May 05, 2019 07:51 AM #1
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Anthony Acosta - ALLATLANTACONDOS.COM very valuable report about  how to handle a low ball offer.

May 05, 2019 09:25 AM #2
Rainmaker
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Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Anthony good eye and thanks for this interesting repost cheers cvc

May 05, 2019 09:33 AM #3
Rainer
506,809
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

It all makes sense!!!

Real estate transactions have hurdles to work through and they’re not all easily put together. Negotiation is a part of real estate and it’s a regular occurrence for there to be back and forth between the buyer and seller before mutually agreeable terms are found. A low ball offer can be the start of negotiation but, it requires the proper steps be taken in order to turn that offer into something that’s acceptable for the seller and the buyer.

May 05, 2019 10:01 AM #4
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I get low ball offers about 10% of the time on my listings. These are some helpful ways to respond to them, Thanks!

May 05, 2019 12:40 PM #5
Rainmaker
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Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

It happens to everyone...and sometimes it is just a "test of the water."

May 05, 2019 03:15 PM #6
Rainmaker
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Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Ashburn, VA
Alexandria Virginia Homes For Sale

Thank you for sharing this post Anthony. I appreciate it!

May 06, 2019 04:14 AM #7
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