08/29/2023
Let’s Get Real 🏡: Sellers are in no way obligated to counter your offer! Think twice before you “lowball” - sellers hold the power to decide.
In the world of real estate negotiations, sellers have the freedom to weigh all their options and consider every offer they receive (even if it’s just one), then accept, counter, OR REJECT… Depending on the market, especially one with lots of competition, submitting a low offer in no way guarantees a counter offer or an acceptance… you may not even hear a response back! A low offer may seem like a good way to purchase a property for less $, but it might be costing you the home altogether.
When writing an offer, it is important to consider many factors that may be impacting the sellers decision:
-Your competitors, who may also be submitting offers & the housing market in your area.
-How long has the property been on the market?
-Is the property priced well for the area/market/condition?
-What is important to the seller (price is not the only deciding factor for many)?
This is in no way encouraging offers well over list price for every home. Each property and every single offer will be different and depend on these many factors. Your Realtor should help you navigate the complexities of submitting an appropriate but competitive offer & one that you are comfortable with!
