subject: Sellers, Do You Feel Insulted by a Low Offer on Your Home? [print this page] Sellers, Do You Feel Insulted by a Low Offer on Your Home?
North Georgia Real Estate, Blue Ridge Homes and Land, North Georgia Homes for Sale, Selling Your Home in the Blue Ridge Mountains, Dealing with Low Ball Offers
Sellers, do you feel insulted by a low offer on your home? Do you want to explode? Whatever you do, try your best not to react withnegative emotions. I know it's easier said than done for many homeowners but it's absolutely crucial. My heart goes out to the seller and the agent of the seller in this situation. A seller reacting negatively could very well risk losing a possible sale and agents in this situation need to assist their client in handling insulting offers professionally. Sellers should remind themselves that selling their home is far more important than feeling insulted. Get past your personal feelings of hurt and/or anger quickly and focus on areas of negotiation.
I fully believe buyers are not trying to insult sellers, they really are not. A low offer might mean a coupleof things such as: the buyer making the low offer is testing the waters so to speak, hoping they might get lucky and get the deal they want or the buyer may be making the best offer they can. Through negotiations, the seller can determine which category applies to the buyer's situation.
Sellers, ask yourself is your home priced where it should be based on a fair valuation of your home? It doesn't matter what it appraised for a year ago, or even 6 months ago. What is the market doing currently and are you in line? What's your selling price range, another words how low are you willing to go? What do you really need to net? Weigh out your net versus any monthly mortgage payments, property taxes and maintenance costs that you are paying while your home sits on the market.
Consider that the buyer is serious about your property to even make an offer to begin with. If you feel your home is priced well and the offer is too faroutside of your desired selling price range or just downright unreasonable, then stick to the selling price you want and counter back, but at least counter back.
Look for other opportunities of negotiation to make the deal work. Be sure the buyer is aware of the value and top selling features of your home to reinforce why the sales price is set where it is.
A buyer who has made the best offer they can will walk away if they are at their
limit, if not at their limit,they may very well come back with a better offer. Work closely with your trusted Realtor and study the comparable sales"actual solds", even go out and preview some of the homes that sold recently if possible. Real estate can be very emotional but it's also business so be sure to keep emotions in check and logic at the forefront.
