Though low offers can feel like a slap in the face, there’s always an opportunity to negotiate a better price.
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When selling your home, how do you respond when someone gives you a low offer? This situation can often be upsetting for homeowners, but there are ways a low offer can be negotiated into a deal that works for everyone.
So before you kick a potential buyer to the curb for offering too little, here are a few things you can do:
- Put yourself in the buyer’s shoes. They may simply be looking to see if you’re willing to sell for less. Try countering them back at full price (or close to it) and see how much they really want the house. If they’re truly interested, they’ll be open to negotiation.
- Find out what’s important to the buyer. This can be done by speaking to the buyer’s agent, but you want to know what really matters to the person making the offer. Are they looking for the peace of mind that comes from a relatively problem-free home? If this is the case, you could offer to purchase a home warranty for them for as low as $500. This amount is a lot less than taking a $35,000 hit by accepting a low offer.
If they’re truly interested, they’ll be open to negotiation.
By talking to the agent and finding out their buyer’s needs, you may uncover the one thing you need to negotiate a price that everyone’s happy with.
If you have any other questions or need more information about dealing with buyers, reach out to me. I’d be more than happy to help you. In the meantime, I look forward to hearing from you soon.