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Offensive: Low Offer

Offensive: Low Offer

If after viewing your home a potential buyer offers a very low bid, should I consider that offensive?

Offer Offensive

I would not find it offensive they are probably seing if the price is negotiable and how much your willing to give. Usually a counter offer is placed if you thought of going that low or a simple sorry not for sale at that price will get them to raise the offer.

Offensive: Low Offer History & Civil Business Politics

It might also be a good indicator there is a major flaw in your home that no one wants to deal with.

Mostly it is likely some one trying to get the best deal they can and are ready to negotiate it all out to every last detail.

I would think you likely have a few other offers and as such you should let them know and see if you can start the two against each other. Might get more then you had hoped for if this happens.

Remember selling and buying a home is not personal it is a business traction you do what you need to do to get the best deal for you, so never take anything personal about it.

Offer Offensive

Offensive? No. But you should take an objective look at why you received the low-ball offer. Is your house priced comparable to similar homes in the area? Do you have major repairs undone or defects? Is your house spotless and uncluttered - (that in itself can bring down the price)? Has the market taken a sudden downturn since your home was listed? Is your location less than perfect? Are you on a busy street or in a declining neighborhood? Take an objective look at your situation and see if there is ANYTHING that would warrant the low offer. If so, is there anything you can do to change the situation in your favor? If not, perhaps you need to look at lowering your price.
If, after analyzing the situation, and you and your agent still think you are priced in the ballpark then perhaps this buyer is just looking for a steal. Some people habitually make low offers trying to see if anyone will bite. Perhaps, having heard of all the foreclosures in the current market, they are looking for an investment buy. Regardless, I would not take it as an offense, just an opportunity to reassess the situation and make adjustments if needed. Just because they made the low offer you are under no obligation to accept.

Edited: alskann on 8th Jun, 2008 - 5:49am

Offer Offensive

Well said, Alskann.
It is just business.
Negotiate accordingly and keep your emotions in check.
Work toward making a deal thru offer and counter offer and if you can't get there, move on to the next prospect.

Offensive: Low Offer

Yes looking it as a business investment and not as someone trying to ron you of value is the best way of looking at it. Also if your house keeps getting low offers you may want to look at fixing some things up. There is a problem with your house and talking to the real estate agent may be the way to find out what it is they are not liking.