Skip To Content

    How to Approach a Lowball Offer

    I’m sharing the three ways you can respond to a lowball offer on your home.

    Looking for a home? Click here to search homes.

    How should you respond to a lowball offer? To begin, the first rule of any offer is to always respond, either verbally or in writing. Never ignore any offer from a buyer. With that in mind, here are the three ways to approach a lowball offer:

    1. Test the market. For example, if your home is listed for $500,000, and you’re given an offer for $425,000, it may be a good idea to test the market to see if you can even get a better price than that offer. Perhaps you could get $460,000. Frequently, when we drop the price, we’ll get a deluge of multiple offers and bid them up in price.

     

    The first rule of any offer is to always respond, either verbally or in writing.

     

    2. Counter the offer. Counter the offer, but stay close to your list price. This will show the buyer that you’re a tough negotiator, you’ll see how high they’re willing to go up, and if they’re serious about buying the house.

    3. Politely decline the offer. If their offer is so low that you can’t even entertain it, tell them you appreciate their interest, but you don’t think this property is right for them and they should move on to something else. This way, you’ll see if the buyer is truly serious, or if they were just looking to get a great deal.

    If you have any questions about selling your home or have a topic you’d like us to cover in one of our videos, please give us a call or send an email. We look forward to hearing from you.

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Essex, Morris and Union County area.