How Sellers Can Work with a Low-Ball Offer

Photo by Realtor.com

A seller’s worst nightmare? Besides not being able to sell their home, another worst-case scenario is a low-ball offer. A low-ball offer can lead to a successful closing, if the seller is willing to negotiate and play their cards right. This realtor.com article gives some insight into some seller options once they receive a low-ball offer.

1. Try not to get insulted. A buyer’s low offer doesn’t necessarily mean they are trying to take advantage of you. They might be coming from another market where low-ball offers are the norm.

2. Respond with grace. A little gratitude goes a long way.

3. Write a strategic counter offer. Assuming you priced the home well, do not feel like you have to come drastically off your asking price.

4. Expect the buyer to counter your counter offer. Try to remain patient through this process.

5. Negotiate other terms, not just price. Consider the closing date or other contingencies (appraisal, home inspection, termite inspection, etc.).

The bottom line: No seller dreams of getting a lowball offer, but with the right strategy, you can turn a mediocre bid into a great sale.