Receiving an offer on your home is very exciting. Then you read the offer and
realize it’s not what you were looking to get and you are wondering what to do next.
Replying to an offer which is not acceptable is a matter of strategy. Here are a few
strategies I used to handle a low offer.
The most particle way to reply to a low offer is to send the buyers a counter
offer. You can counter at the original list price and terms or come down and offer
something in between the original list price and the offer.
Highest and Best
This strategy allows the buyer to revise their offer, should they choose. This is
most often used in a multiple offer situation, but works just as well with a single
buyer who needs to know their offer isn’t acceptable.
Include Terms in Negotiation
The price is not the only part of an offer which can be negotiated; the terms can
also be changed. Sometimes a seller can get a higher price by offering longer
escrow or adding furniture.
Reject the Offer
There is no reason to respond to an offer which isn’t even close to acceptable. A
seller can reject the offer completely.
Offers are exciting; consider the options available for counter offers and ensure
you negotiate a good deal for your home.