So, you’ve touched up, fixed up, and prettied up your home and put it on the market. You held an open house – and even got a fair amount of traffic – and you’ve received a call from your real estate agent saying that you’ve now received an offer. Unfortunately, though, it’s for an amount that is well below your asking price.
What should you do?
The answer to that may depend on a couple of factors. First, any offer – even a lowball offer – could actually be the start of an eventually successful negotiation. However, that doesn’t mean that you should be afraid to play hardball with the potential purchaser – especially if you aren’t in a desperate situation to sell your property.
The first thing that you should always keep in mind is the end result. In other words, you need to focus on the end result of ultimately selling your home. So, if you decide to make a counter offer – even one that is back up near your asking price – don’t worry about how that figure is going to be perceived.
If the potential purchaser was truly a “bottom fisher,” they may not return with another counter offer of their own. But, if they are truly interested in the home, you could find that they’ll come back with another counter offer which may be more in the ballpark.
Other Factors to Keep in Mind
When you are assessing an offer from a potential buyer, it is also important to factor in all of the offer’s other terms. These will typically include things like when they would like to close on the property, any repairs that they are requesting (or that they are willing to let you forgo), and other items that they may want to have included in the sale, such as appliances.
Having a real estate agent in your corner to help you through these negotiation can be helpful, as the negotiations can sometimes get intense. If you are considering a move in or around the Bakersfield area, Contact Us.