Dear Seller, Before You Reject That Lowball Offer...
From A seller's perspective there is nothing more exciting than an agent calling with news of an incoming offer. Visions of full price, no concessions, and 13 day escrows start dancing in their head. Then the offer comes in so low that you think for a moment this might be the deposit. Let's look at some tips for managing a lowball offer.
1. Don't get discouraged, many offers that start out "lowball" end up closing down the road.
2. Have your real estate agent do a new comparative market analysis (CMA). If your home has been on the market for a while the economic winds may have shifted.
3. In almost all cases, take the time to counter. A flat out rejection ends the game. Come up with a figure you can live with and send it back for signatures. You might be surprised!
4. Buyers these days get advice from EVERYONE. It can be overwhelming. Sometimes buyers just write the lowball to shut a "helpful" family member up. It was my experience working with purchasers that sometimes buyers must "lose out" on a deal before they learn to write stronger offers.
5. Put the counter offer in writing- A verbal offer leaves too much uncertainty. There is something about ink on paper that makes something seem more important.
6. There is no such thing as "an insulting" offer. Even if the two sides don't come to terms, an offer means a buyer felt strong enough about your home to put something on paper. That's a win!
Selling Your Home In A Tough Real Estate Market
Searching for a Destin Florida area real estate agent to help guide you through the sales process? Call Doug Rogers (318) 613-1994 with RE/MAX Coastal Properties today! Want to see how your Emerald Coast area condo compares to the local competition? Go to Destin Florida Condos For Sale to review properties listed on the local MLS.
Comments(9)