How should you deal with lowball offers? Here’s our advice.
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I wanted to dive into a topic today that we’ve been getting asked about a lot lately: lowball offers. Dealing with them can be tricky, but it doesn’t have to be. Here’s our advice for how to handle them.
We all know lowball offers can be frustrating. However, the first thing you need to remember when you get a lowball offer is to not take it personally. Of course you have pride in your home and there’s no way you’ll accept an offer that’s $50,000 less than asking price, but you don't have to shout that from the rooftop. Just because someone makes a lowball offer doesn’t mean you have to accept it. Set your emotions aside and look at it as a business transaction. That’s a huge step in the right direction.
After we’ve taken emotion out of the situation, we need to embrace the counteroffer when it comes to lowball offers. I can’t tell you how many times I’ve received a lowball offer, made a counteroffer that was just under list price, and had the offer accepted.
Always come back with a counter.
A lot of times, people simply don’t offer full price out of principle. You always have the option to come back with a counteroffer of your own, so you should always do it. In our opinion, it’s always best to put the ball back in their court. You’ll find out really quick if they are serious or not.
If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.
