So you got yourself a realtor, put your house on the market, and even held some open houses. Now, the big moment has finally arrived. You’ve received your very first offer. You’re ecstatic, heart beat rising, blood pumping to your head as you think of life beyond your current home. 

Then you see the dollar amount, and you don’t know whether to laugh or cry. 

You’ve Just Been Lowballed 

Receiving an offer that’s considerably lower than the amount you’re asking for can feel like a slap in the face. And that’s because it’s someone literally telling you your house isn’t worth that much. They don’t know the time and effort you put into maintaining that home. They could never appreciate the memories you made there. 

Clearly they don’t think you’re very smart, right? Well, no. The first thing you should know about a lowball offer is this: 

You Can’t Take it Personally 

Chances are, the potential buyer is not trying to pull a fast one on you. There could be a number of reasons why someone would make a low offer. They could be coming in from a cheaper market. They could be waiting to see what you’d counter with. 

There also might be additional terms in their offer you’re not immediately looking at. It’s possible that they’re offering a lower price, but they’re willing to cover closing costs or handle some repairs you were going to do before moving out. 

You Don’t Have to Counter, but You Should Respond 

Depending on how low it is, you can counter with a more respectable asking price. Or you can simply thank them for their offer, but explain that you’re not interested. The choice is yours. Unless you’re under an extreme time crunch or financial burden, you don’t have to try and deal with every potential buyer that comes through. 

If You Counter, They will Probably Counter 

It’s to be expected that the person will make a counter offer to your counter offer, should you choose to send one. After all, they wouldn’t have made a low offer if they weren’t looking for a deal. It’ll be up to you to decide how low you can go. You can always stand firm on your initial counter offer and see where it goes from there. 

Get Better Offers 

The best way to make sure you receive respectable, qualified offers is with an expert real estate agent working with you. At Metro San Diego Realty, we’re experts at selling homes in and around San Diego. Open house coordinating, digital marketing, video tours, and photography are just some of services we offer to sellers. 

Contact us today and avoid having to deal with lowballs.

Posted by Jason Coriano on
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