Our proven guide to dealing with lowball offers on your property.
How do you handle a lowball offer? This is a common question, and our team knows exactly how to address it. When we receive a low offer, we respond by sending a form inviting the buyers to submit a more competitive offer. This approach helps us communicate clearly and set the stage for a more productive negotiation.
Some buyers make low offers just to see if they can get a great deal. When faced with such offers, it’s crucial to work with facts and data and remove emotion from the equation.
Our “Seller’s Invitation to Buyer to Submit a New Offer” form allows us to communicate our terms to the buyer without making an official counteroffer. In this form, we can specify what we want to see in the contract. For example, if we need the closing date moved up or require a leaseback agreement, we can communicate these needs. If the offered price is significantly off, we can bring up issues like surveys and other factors without making a binding counteroffer.
“In dealing with lowball offers, you need to stick to the facts and remain objective.”
While using this form, the property remains on the market. We can continue to show it and negotiate with other potential buyers. This strategy allows us to engage with the initial buyer without being locked into their offer.
Our strategy is to communicate with every buyer, even those who submit lowball offers. We never know their true intentions—they might genuinely love the home and just be testing the waters. By staying professional and clear about our terms, we keep the door open for potential negotiations.
Our best advice is not to get frustrated or upset with lowball offers. Instead, approach the situation calmly and state your preferences for an acceptable offer.
Our team of trained experts in listings and negotiations is here to help. Please give us a call at (979) 325-2134 or email megan@bockrealtygroup.com. We would be more than happy to help you. Talk to you soon!