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Lowball Offers

November 14th, 2016 · No Comments · California Real Estate, Market Conditions, Santa Barbara Real Estate, The Real Estate Scene, Tips For Sellers

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A true lowball offer is considered to be an offer 20% or more off the asking price. Sometimes a seller will not even respond to a lowball offer. In some instances that might be the best way to play your hand, but not all  Each scenario is unique unto itself depending on the personalities that are involved, and market conditions. Some believe that any offer below 10% and the owner will be offended.

Real Estate agents are facilitators that can counsel you through the negotiations. Once a conversation has begun between both sides every exchange is a negotiation whether that be in writing or in conversation. It’s a delicate dance where every communication must be carefully taken into consideration.

There are some who believe that every offer should be responded to since you never know where negotiations may take you.  It may turn out that there is just too much room between both sides to bring both buyer and seller to an agreement. Then again, you might be able to arrive at a meeting of the minds by coming up with a creative solution that neither buyer or seller had thought of. That’s where an experienced agent can make the difference.

In the end it’s always about price. If your home is priced correctly for the current market then there’s no reason to give away the store, and your home will sell in a reasonable time frame. Market conditions and careful pricing of your home will dictate what’s real and what’s not. If your home has been on the market for an extended period of time then it’s probably not priced competitively, and you should consider a price reduction.

While the goal is to get the highest price sales price in a reasonable amount of time listing a home above market value often turns away prospects and decreases the likelihood of a successful sale. Statistics show time and again that homes that are priced properly, when first brought to market, sell at a higher price.

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