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How to Understand a Low Ball Offer on Your Austin Texas Home

Posted by Kent Redding

 

As an Austin Texas Home Owner your goal right now may be to sell your home in the coming months but the reality is that you might receive a low ball offer on your home.

Although receiving a low ball offer isn’t uncommon in Real Estate the reality is that you can be prepared for receiving a low ball offer if you first understand why buyers submit low ball offers and how you should respond to them.

Understanding Low Ball Offers

A low ball offer can be classified as an offer that’s between $5,000 and $15,000 lower than your asking price although the exact definition of a low ball offer can vary from one buyer to the next

Home buyers will make low ball offers for a variety of reasons including the advice from their agent, family friend, or Realtor® to submit a low offer and are “testing the waters” or they are trying to justify improvements or home repairs that need to be made by submitting a low offer on your home.

Stay Focused On the Goal of Selling Your Home

During the process of selling your Austin Texas home it’s important to remember that your goal is to sell your home and even though there may be an initial sting from the low ball offer the reality is that if you really do want to sell your home you should stay focused on the goal of selling your home and do the following:

  •          Maintain control of your emotions – Remember that the low ball offer is not the end of negotiations, it’s just the beginning and there may ultimately be several counter offers until the buyer submits an offer that you finally agree on.
  •          Review comparable property values – Take the time to review comparable property values in the area to determine if there is a basis for the low offer especially if your home has been sitting on the market for any length of time.
  •          Inspect the terms of the purchase offer – Last of all, but most important, take the time to review the terms of the purchase offer including the closing date, possession date and personal property requested because even though the offer may seem low the reality is that there are other things that should be looked at instead of just the offer a buyer makes on your home.

Sell Your Austin Texas Home

To get started with selling your Austin Texas Home, including low ball offers, contact the Kent Redding Group today by calling us at (512) 306-1001 or click here to connect with us online. 

The Kent Redding Group

#1 Berkshire Team in Texas

512-306-1001| www.CallKent.com 

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