As your Central Coast real estate agent, allow me to offer Central Coast home sellers advice on dealing with lowball offers from buyers. This is a situation that can arise anytime a homeowner tries selling their home. When this happens, it is best to ask yourself a few questions before responding.
Here are a few questions HouseLogic recommends asking yourself and discussing with your agent:
1. Is it a lowball offer or just lower than you wanted? It’s easy for Central Coast home sellers to want and expect more for their home than what it’s worth. After all, you’ve lived there for many years, made lots of memories, and completed repairs and improvements. It’s normal to feel this way. However, to better improve your odds of selling, it’s important to sell your home appropriately using a comparative market analysis and the expertise of a local agent.
2. Should you immediately reject lowball offers? This depends on how low the offer is. If it is significantly less than 25 percent below your list price, it may be worth declining outright. However, if it’s too low but in a negotiable range, submit a counteroffer through your agent. Any offer at all shows that the buyer is interested in buying your home, which is a great start. You don’t want to dismiss them right away. This will also depend on current competition from other sellers and the amount of buyer interest you’re receiving.
3. What else is important to you? Take a step back to consider what is most important to you. Of course the price that you sell for is important to you, but is it most important? Is it more important to you that you sell quickly? Are you hoping for a cash sale? Is the buyer pre-approved and therefore will make the closing process go faster? Is the buyer offering a larger down payment than other interested buyers? Does this buyer have fewer inspection contingencies? A lot goes into choosing a buyer for your Central Coast home.
When it comes to selling, remember that this isn’t about your ego, it’s about the sale of one of your biggest assets, and it’s also about your life. You should get a fair price for your home. You should also think about where you plan on going after the sale, when you’d like that to happen, and why these changes are important to you. This will help you keep a clear mind and to make decisions from the head rather than the heart.
Of course, sometimes this is easier said than done! That is where a reliable Central Coast real estate agent comes into play. I can provide advice on buyer offers from a place of experience, professionalism and neutrality. I will be honest rather than sugarcoat my responses. If you’d like to ask me questions about my experience or the current Central Coast real estate market, or you’re ready to begin the home-selling process, don’t hesitate to contact me!
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.