Don’t be insulted by a lowball offer on your home. Here are a few steps you can take that will help you turn that lowball offer into a home run.
If you’re selling your home in Sacramento and you receive a lowball offer on it from a potential buyer, you may be wondering whether it’s still possible to get a great deal on your home. Today we’d like to share five steps you should take to turn that lowball offer into a home run:
1. Don’t be insulted by a lowball offer. Keep in mind that this is a starting point of the negotiation. You can’t hit a home run without stepping up to the plate first. This is our opportunity to step up to the plate and negotiate on your behalf.
2. Respond gracefully. Even though this is a lowball offer, show some gratitude that you received an offer in the first place. Grace can go a long way. Put yourself in the buyer’s shoes: if a seller launches a personal attack on you after making an offer, are you likely to come up on your price? Don’t respond with your first gut reaction; take a moment to digest it, then respond.
3. Write a strategic counteroffer. Receiving a lowball offer doesn’t mean that you need to be aggressive in your counteroffer, and sometimes people leave too much money on the table. Respond in kind – this is a negotiation, so let us work until we get to a point where you feel comfortable selling your home at the right price.
4. Expect a counter to your counteroffer. It’s natural for this negotiation to feel a bit like a chess game, and you may counter back and forth a few different times. Be patient during this process and realize that your agent will keep your best interest in mind.
5. Negotiate other terms. If you’re having trouble settling on a price on the property, get creative with terms like the closing date, rent-backs, included appliances, or other terms that might make it worth your while. Let your agent help you negotiate a win-win situation for all parties involved.
If you have any questions about lowball offers or real estate in general, don’t hesitate to give us a call or send us an email. We’d be happy to point you in the right direction!