Castles By Chrissy Neumann - Atlanta Real Estate Consultant    
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Dear Chrissy Homepage June 07, 2005
   

DEAR CHRISSY: If my home is on the market and an interested buyer submits an offer that is far below my asking price do you think I should just not respond because we probably won't be able to come to an agreement? ~Leslie, San Franciscoa

DEAR WEST COAST SUBSCRIBER: This is a great question, when you receive a "low-ball" offer you often feel insulted and you would rather not sell to a buyer who doesn't see the value in your home. However, that's typically not the case....

First and most important is to not take any offer as a personal offense. Many buyers like to just see how low you are willing to go, giving little thought to what your home is actually worth (especially when its a buyer's market in Atlanta).

Second, I have found that if a buyer is serious enough to make an offer and ANY offer, then there is a 90% chance you can make the offer a win/win for all parties involved.

With that being said, though you don't want to let the buyers know how low you're willing to go until they get serious on their offer. Which is why I advise my sellers to respond with just about $1000 off their listing price. This lets the buyers know that you do want to work with them, but that they need come significantly up in their price if this is going to work out.

Once your counter is presented then the buyers realize you're not willing to give away the farm per se, but you are willing to sell your home to them for fair market value. You may have to go through one more set of negotiations, but the end price will be one that you're comfortable with and can feel good about the value of your home!


 

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