How to Negotiate a Low Offer on Houses for Sale in Hampton Roads
Someone has made an offer on one of your houses for sale in Hampton Roads, but it is too low. What will you do? Most sellers are not excited about getting a lowball offer on their houses for sale in Hampton roads. But don’t worry. It is normal to receive below-the-line offers. All sellers have to field them. While it is true that they create a lot of frustration, there are several ways to overcome them.
Keep in mind that while selling a home, it is important to negotiate terms and a price that both the buyer and the seller can accept. If you feel that an offer is too low, you can refuse it outright. You are under no obligation to accept the first offer that comes your way. That said, there are some tips to negotiate a higher price for houses for sale in Hampton roads.
Don’t get carried away by your emotions
Yes, it is your home and you have an emotional attachment to it. Even so, selling isn’t personal. It is a business transaction. Don’t look at the size of the offer. It is an offer no matter how small it is. The terms may be ridiculous and the buyer might not want to close anytime soon. Still, an offer is an offer and it is an indication that somebody is interested in your home.
Terms and prices are negotiable, so even if an offer is too low, don’t feel sad or insulted. Yes, it gets distressing if someone devalues your property but keep in mind that they’re trying to get a good deal too. This is where you need the service of an experienced agent. Your agent has no emotional attachment to your home. Even if the offer is too low, they can negotiate it without losing their cool. So if you feel insulted by the offer, take your time to allow your emotions to settle before you respond to it. Once you have your emotions under control, you will realize that the offer was not as bad as it seemed to be.
Consider all terms and conditions
Price is the first thing that sellers and buyers look at. However, other terms and conditions of the offer are just as important, so give them enough consideration. Even if the offer is low, sometimes it is worth considering. For example, the closing date could be within a time frame acceptable to you. Or maybe the buyer is willing to pay in cash or has a pre-approved mortgage.
Find out what is important to the buyer. If you can negotiate around it, you will probably be able to get a higher price. Be willing to concede on terms that are not particularly important to you.
Take a look at the comparable sales in your neighborhood.
Comparable sales in the last six months will give you a better understanding of the current home values. If your asking price is higher than the resale value of comparable houses for sale in Hampton roads, you will have to settle for a low offer. You should also take a look at the comparable homes the buyer is considering. Maybe those homes are far inferior to yours. If you can gather more information, you will be in a better position to negotiate.