Lowball Offer On House – Should I counter? | Real View of Real Estate

LSFlood

3 years ago

As a seller, how do I handle a lowball offer?

Well, I think that sellers should always counter no matter what the offer is, or at least a verbal counter. With the market changing right now, we’re starting to see homes on the market just a little bit longer. So buyers, of course, are going to come in a little bit lower if there’s not multiple offers right away. They feel like they have a little room to negotiate, which sometimes they do, and sometimes they don’t.

I just had a situation where we had a property on the market for a couple of weeks, had a lowball offer, we countered it, and it didn’t come together. And then yesterday, we had two more offers come in and we were able to get the sellers exactly what they wanted. So you just don’t know what buyers are willing to do with interest rates being so low. I think the difference between $5,000 on a mortgage isn’t that much. So sometimes, again, buyers will test the market and see where you’re at. But as a seller, I would always recommend countering, you just never know.

Would you ever consider submitting an offer that is thousands of dollars below the asking price? Laura Flood explains why she thinks a seller should always counter back with an offer, even if it is a lowball offer. Click here to watch our Real View of Real Estate series: https://youtube.com/playlist?list=PLi… If you want to schedule a confidential call with Laura, reach out to us on our socials (@laurasrealestategroup) or visit our website, LaurasRealEstateGroup.com to get started.