Princeton Town Topics – Let’s Talk Real Estate – February 8, 2107
THE OFFER’S IN – AND IT’S LOW: SHOULD YOU TAKE IT?
Every seller fears it: The low-ball offer. But before you turn your back, here are a few key points to consider before you decide to walk away:
- Is the offer truly low, or is it simply lower than what you were hoping to get? Low-ball offers vary from one market to another and even from one home to another. An experienced Realtor can help you decide if an offer is truly too low or if it’s just lower than what you wanted.
- Is your home priced right for the market? Again, an agent who’s experienced in your market can help you decide if your price needs adjusting, especially if you receive multiple low offers (or very few offers).
- Are you reacting out of indignation? Once a low offer comes in, take some time to cool down and remove the drama from your decision, then consider a counteroffer closer to your asking price.
- Are there other incentives associated with the offer? Maybe the offer comes with a very quick closing, it’s all-cash or there are few inspection contingencies. These can all add to the value of the offer, so they should be weighed in.
After all, your goal is to sell your home, so before turning your back on a low offer, consider why it’s low and whether the offer may still be a good deal for your needs.
