How to Handle Low Offers on Your Home?

In the world of property sales, receiving a low offer can initially feel disappointing but don't let it dishearten you. This common scenario, with the right approach, can be turned into a golden opportunity for negotiation and potentially closing a deal. Let's explore how to navigate low offers on your home.

Firstly, it's crucial to stay calm. It's natural to feel frustrated when the offer isn't what you expected. 

Next, try to understand the buyer's perspective. The offer might be based on their budget constraints, perceptions of your home’s value, or advice they’ve received. It's also worth reviewing the market to see if there have been changes in the market since you listed your home. Talking to your agent about the current market can help guide your response to the offer. 

Consider your own situation and how urgently you need to sell. If you're not in a rush, you might be more inclined to wait for a better offer. However, if you need to sell quickly, you might want to engage more seriously with the offer at hand.

If the offer is lower than expected but still within a reasonable range, discuss with your agent how they could help make it work for you. Perhaps there’s a minimum price that you’d consider. Remember it doesn’t always have to be just about price; it could be terms or dates. And, if you're buying too, you also have the opportunity to negotiate a lower price from that seller. 

Most importantly, remember that every offer is a starting point in negotiations. One of the biggest benefits of working with an agency is that they’re doing the negotiating for you. You’re not having to talk directly with the buyer and remind them of your home’s unique features, recent upgrades, or desirable location. The agent works for you to sell your home but for a price and on terms that are right for you. 

Image: Bruce Mars

For more detailed information about what’s happening in the property market in your local area, or to arrange a free valuation or seek professional advice about marketing your property, please contact your Imagine branch, call our Head Office on 01923 630844 or click here to call.