Lowball offers are typical during the home selling and this piece of paper actually frustrates most home sellers. While this is a bit upsetting, recognize the value of receiving such interest from prospect buyers.
Although low ball offers are easy to trash, take advantage of the opportunity to counter the offer and sell your house fast at a fair price, not necessarily at your bottom line.
Counteroffers are commonly generated by the seller usually after your prospect buyer made a purchase offer. And this includes the seller’s acceptance subject to some consideration. These usually include the following:
1. A higher price offer
2. Larger earnest money deposit
3. Rebuff of fees
4. Changing closing date, and
5. Including or excluding personal properties
So how will you professionally create a counter offer without creating embarrassment and conflict to both parties? Here are 4 ways to do.
4 Ways to Sell Your House Fast with a Counter Offer
Do not easily get upset when someone makes a low ball offer. It’s fine. While you are creating a counter, investigate a bit on why the buyer is in need of a new property.
Ask your prospect indirectly of the reason for the move. If it’s due to a job transfer then your buyer need to seal the deal quick.
Use this to your advantage in making your counteroffer.
One way to counter a lowball offer is to include incentives on your response. These perks lure your prospects to agree on the proposal. Usually, first-time homebuyers get excited for these, which ease the hassle and close the sale quick.
Samples of incentives to give your prospect include paying for the moving expenses, allowance for the repaint and window treatment, home and appliances warranty, or offering a later or earlier closing date depending on your buyer’s needs.
These perks can do the trick.
Put pressure to your buyer by delaying the counter offer. One to three days of waiting period will suffice. During this time, check for other offers from interested buyers and see if there is a better opportunity.
Remember that home selling is not on a first come first serve basis. You are free to entertain offers from many prospects as much as you want to. Moreover, keep an eye to those who are making good and fair bids. They might be more serious in purchasing your home.
While making a counter-offer is advisable, consider the time you are allocating in sending the papers back and forth. Don’t settle for a single buyer. The longer your house sits on the average market time frame, the lesser it became hot and reasonable for buyers.
Give and take in home selling is a common placeholder. Once buyer request for something, of course, you should get something in return. This tactic slows down future requests from buyers as they see the results of doing such.
Moreover, don’t give into the ploy of the most common, “This is all we can afford”. This is a widespread strategy used by many homebuyers. When this happens, respond politely emphasizing that your house for sale is worth lot more than their absurd offer. A serious buyer would come back with a more serious and better proposal.
If you are selling your home with a co-owner, play the deal by appearing on the buyer’s side while your partner acts as someone who is strict and reasonable. This way, you are creating a relationship with the buyer, which you can use to sell your home fast.
Creating a counter offer is not a hard game. Just learn your numbers and do the right thing to seal the deal. Keep the focus on selling your house fast and get the top dollar by making reasonable offers that won’t deter possible buyers from pursuing the business with you.
Moreover, make sure that your house is in its best shape before you execute this negotiating strategy. It should be in an excellent condition and if possible turnkey to get more eyes and offers from prospects. Otherwise, your house may linger long in the market and reduce its selling value.
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