If you take care to price your home correctly – that is, at a price that is in line with what similar properties in the area have sold for recently – then you have a good chance of selling it at or near your asking price.
That doesn’t mean you won’t get a low ball offer. You might. So what do you do when that happens?
First, understand that the Buyer may not necessarily be trying to steal away your home at a bargain-basement price. He/she might simply be mistaken by its true market value. Of course, they might also be coming in at a low price in the hopes they’ll get lucky.
You will never know the buyer’s motives. So it would be a mistake to get angry or dismiss the offer out-of-hand. That low ball offer might end up being the beginning of a negotiation that results in your selling your home at a good price.
Your first step is to work with your REALTOR to determine:
- How serious the Buyer is.
- How qualified the Buyer is (For example, does he/she have a pre-approval for a mortgage?)
- How amenable the Buyer is to a counter-offer that reflects the true market value of your home.
- What the counter-offer should be.
This isn’t an easy process. It takes knowledge and experience to get it right. That’s why working with a good REALTOR is essential.
Looking for a REALTOR who is an expert in this stuff? Call or message me!