Dealing With Lowball Offers
The process of selling a home can include a certain amount of frustration, especially when a “lowball” offer is presented to the seller.
A “lowball” offer is an offer significantly lower than the asking price – and sometimes low enough to insult the seller.
While lowball offers are unfortunately not uncommon in real estate, remember that even successful transactions can require several rounds of negotiation between buyers, sellers and brokers.
When responding to any offer, sellers have three options… they can accept the offer, reject it or make a counter offer.
Keep in mind that by making an offer the buyer has demonstrated an interest in your property – so unless you have other offers, it is usually never a good idea to reject an offer.
Also, price should not be the only consideration. Other important factors to consider are the closing date, the buyer’s financing, and contingencies.
Your Realtor is an experienced negotiator working on your behalf and acting in your best interest – so seek and take their advice when it comes to drafting a counter offer.
