We Have An Offer...What To Do?
Sellers, if we get a full priced offer on your property, that's sure going to result in a short and happy meeting as we discuss your contract. Of course, we still need to evaluate the Buyer's financing, get through the home inspections, accept the closing and possession requirements, etc., but at least we're happy with the purchase price!
Full priced offers don't come along very often, however. What can you expect in the Louisville and surrounding area. The average differential between asking and selling price in the Louisville MLS area is 3% to 5%. That means a Seller can expect 95% to 97% of their asking price.
What happens when you get a low-ball offer? You'll probably be mad but don't let your anger last for any longer than about 10 seconds. The Buyer is trying to get their best deal...just like you are. You would gladly take $10,000,000 for your home and the Buyer would gladly pay $1. Stay calm and negotiate.
What I'm about to say is pretty controversial, but here we go - when you put your home on the market, stop thinking about it in emotional terms. It's no longer your home. It's an asset that you're trying to sell for as MUCH money as you can get and on the best possible terms. That's how the game is played.
What should you do? Just calmly deal with it. It's either going to work or it's not. The truth is, if you've done all of the right things in preparing and listing your home, the "low-ball" scenario should never occur in the first place.
I can show you how to avoid this situation. If you're interested, just contact me and we'll arrange a meeting.
If you'd like to discuss this issue further, or any other real estate issue, please contact me.
CLICK HERE to send Keith an email or call 502-992-4186.