3 Tips on How To Handle Lowball Offers and Still Sell

By Greg Smith

BoulderHomeSource represents the region’s finest properties with exceptional skill, using the most innovative technologies currently available. BoulderHomeSource offers ultimate privacy, security, speed, and efficiency. The team’s years of full-time experience have given them a clear understanding of the mindset of home buyers and sellers and a thorough understanding of the regional marketplace.

If you’re planning on selling your home this spring, you need to be prepared to receive a lowball offer. Today, I’ll go over three key strategies I recommend when facing a low offer to ultimately get the deal you wanted all along.

1. Be logical and positive. While receiving a low offer can be disheartening, it is important to have an open mind when negotiating. Remember that buyers may simply be trying to initiate discussions and secure a better deal.

Check comparable homes in your area to see where prices are trending. Also, ask your buyer’s agent if they reached their price based on their own comps. If you can prove home prices in your area are actually higher than they thought, they might be willing to increase their offer without much negotiation. Remember, the market ultimately decides the value of your home, not your asking price.

2. Always submit a counteroffer. After checking the comps, if your home is still as valuable as you thought but your buyer isn’t moving, how should you continue? Even if the initial offer seems far below your expectations, continue to engage in dialogue to explore potential compromises. Remember that the goal is to arrive at mutually beneficial terms.

3. Make the terms more attractive to you. Offering concessions like post-closing occupancy agreements or flexible closing periods can sweeten the deal for buyers and incentivize them to continue with the sale. However, if price is the main sticking point, I recommend offering something like covering the buyer’s closing costs or buying down their interest rate to free up cash.

Additionally, learn about your buyer’s financial situation to gain some insights into their capabilities and explore creative solutions. Collaborating with an experienced agent who understands the ins and outs of negotiation and can navigate complex financial scenarios.

Dealing with lowball offers isn’t fun, but it’s necessary if you want to get the best deal possible for your home. If you have any questions about the market, lowball offers, or something else, please call, text, or email me. I am always willing to help!