How to Deal with a Low-Ball Offer

If you take care to price your home correctly — that is, at a price that is in line with what similar properties in the area have sold for recently — then you have a good chance of selling it at or near your asking price. That doesn’t mean you won’t get a low-ball home offer. You might. So what should you do when that happens?

First, understand that the buyer may not necessarily be trying to steal away your home at a bargain-basement price. They may simply be mistaken about its true market value. Of course, they may also be coming in at a low price in the hopes they’ll get lucky. You will never actually know the buyer’s motives. So it would be a mistake to get angry or dismiss the offer out-of-hand. That low-ball offer might end up being the beginning of a negotiation that results in you selling your home at a good price.

Your first step is to work with Adam Lloyd to determine:

• How serious is the buyer
• Is the buyer qualified (For example, does he have a pre-approved mortgage?)
• How amenable the buyer is to a counter-offer that reflects the true market value of your home
• What that counter-offer should be

This isn’t an easy process. It takes knowledge and experience to get it right. That’s why working with Adam Lloyd Realty can make a difference. Contact Adam today at 604.492.5000 or at adam@adamlloyd.ca