If you haven't experienced this scenario, you've probably heard about someone who has: A buyer submits an offer on a home much lower than the seller's asking price. The low offer offends the seller. Not only is it below market value for the home, but it's an insult to all the care put into to maintaining and updating the house. The seller does not bother to reply to the offer.
Though that seems like a reasonable action on the seller's part, it may not be the best course. By ignoring the offer, you are all but guaranteeing that this potential buyer will not pursue purchasing your home. Instead, talk to your Texas REALTOR® about whether you should make a counteroffer with a more reasonable purchase price or let the other party know that the offer on the table is not acceptable but that person is free to submit another offer at a higher price.
By taking some action, you keep the possibilities open. Who knows? The potential purchaser may just want to see how low you will go before revealing what he's willing to pay. Or perhaps because of a difference in his background or personality, he is used to negotiating differently from what you expect. By keeping your emotions in check and responding appropriately, you just may create a situation that leads to the eventual sale of your home.
BILL MOORE TEAM @ RE/MAX
(281) 980-6000 www.onemooresold.com
TEXAS ASSOCIATION OF REALTORS®