When you’re selling your home, nothing compares to the excitement of getting that first offer. There’s also nothing that compares with the crushing despair when you realize it’s far, far below your asking price. Insultingly low, even. After all, this is your house. You’ve loved it and cared for it and improved it and built great memories there. You deserve a fair price for it. So how do you respond to a lowball offer?
- Keep calm. Yes, your feelings are hurt. You may not want to counter at all. But don’t let your emotions run away with you. Remember this isn’t a personal slight—the buyer is just trying to get the best price they can. Take a few deep breaths and then get back to the matter at hand.
- Look at the offer closely. The offer might seem low at first glance, but maybe the buyer is offering to buy the house as is, or excluding big ticket items like appliances you’d intended to include in the selling price. Depending on just how low the offer is, these items might be worth accepting a slightly lower price.
- Look at the market. Today’s housing market is wild and unpredictable. Even in the few days or weeks since you’ve listed the house, maybe other comparable houses have dipped in price. Maybe the market conditions have changed and your original price is now out of line with the rest of the Indianapolis housing market.
- Get the agents involved. Have your real estate agent ask the buyer’s agent why they gave such a low offer. Were there problems with the home? Did they think you were a desperate seller because the house was vacant? Or are they just seeing if they can get away with it? A good seller’s agent will help you ferret out their true motives, and determine whether or not it’s worth your time to counter.
Lowballs are frustrating, but they’re often a part of the selling process. The key is having a great real estate agent who can help you respond smartly and still get top dollar for your home. Need a great seller’s agent in Indianapolis? Call Polaris Real Estate. From lowball offers to a home bidding war, we’ll walk you through every step of the process.