As a North of Boston Real Estate agent, I know that selling your home can be an emotional experience.  Whether you’re just moving across town to your dream home in the North of Boston area, or a job transfer is causing you to relocate; selling your home can seem overwhelming.  Many sellers are concerned that the current buyers market will mean compromising on their price and closing requirements in order to get their home sold.  However, that’s not how it has to be!

 

I have experience in working with both buyers and sellers in the North of Boston area, and have a good idea on what North of Boston buyers are looking for in a home.  Selling North of Boston homes is something I enjoy as I work to get your home sold quickly and at a price point that makes it worth your while.  

 

My approach is to thoroughly research the current market before even putting your home on the market.  That way, we can come up with a fair price that is compliant with other homes on the market, and ensures your selling price is attractive to the buyer while still maintaining your selling needs.

 

But what happens if, after figuring out an ideal price point, you receive a low ball offer on your home?  It can be discouraging, but there are six tips to dealing with a less than favorable offer. 

 

1. Consider the terms- Price is important for most North of Boston buyers and sellers, but it’s not the only deal point. A low purchase offer might make sense if the contingencies are reasonable, the closing date meets your needs, and the buyer is pre-approved for a mortgage. Consider what terms you might change in a counteroffer to make the deal work.

 

2. Counter the purchase offer- Unless you’ve received multiple purchase offers on your North of Boston home, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay or they want to test your limits.

 

A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen appliances that you’d like to take with you.

 

3. Get the agents together- If the purchase offer is too low to counter, but you don’t have a better option, ask your North of Boston Real Estate agent to call the buyer’s agent and try to narrow the price gap so that a counteroffer would make sense. Also, ask your agent whether the buyer (or buyer’s agent) has a reputation for lowball purchase offers. If that’s the case, you might feel more free to reject the offer.

 

4. Review your comps- Ask your North of Boston Real Estate agent whether any homes that are comparable to yours (known as “comps”) have been sold or put on the market since your home was listed for sale. If those new comps are at lower prices, you might have to lower your price to match them if you want to sell.

 

5. Consider the buyer’s comps- Buyers sometimes attach comps to a low offer to try to convince the seller to accept a lower purchase offer. Take a look at those comps. Are the homes similar to yours? If so, your asking price might be unrealistic. If not, you might want to include in your counteroffer information about those homes and your own comps that your North of Boston Real Estate agent provided for you when you first decided your asking price. If the buyers don’t include comps to justify their low purchase offer, have your real estate agent ask the buyers’ agent for those comps or their reasoning behind such a low offer.

 

6. Don’t signal desperation-Buyers are sensitive to signs that a seller may be receptive to a low purchase offer. If your home is vacant or your home’s listing describes you as a “motivated” seller, you’re signaling you’re open to a low offer. If you can remedy the situation, maybe by renting furniture or asking your North of Boston Real Estate agent not to mention in your home listing that you’re motivated, the next purchase offer you get might be more to your liking.

 

I hope these tips will give you some encouragement and insight into how to deal with a low ball offer on your North of Boston home.  If you haven’t yet put your home on the North of Boston Real Estate market and are still searching for a North of Boston Real Estate agent to sell your home; please let me know!  I have a proven track record of successful home sales in the North of Boston area and would love the opportunity to help you achieve your goals.

 

Please feel free to contact me today to get started!


Sven Andersen
North of Boston Real Estate Expert

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Searching for a new place in Winchester to call home? The Sven Andersen Team makes it easy for you to search for your new Winchester home. This FREE, NO-OBLIGATION service can help you find the home of your dreams! Simply visit http://www.northofbostonlistings.com/ and fill out the form to start your auto-email home search today! It's just that easy! The Sven Andersen Team is always willing to help and will always respect your privacy; we leave it up to you to contact US when you're ready to buy or sell in the Winchester area.

If you want to learn more about selling your home visit: www.PriceMyNorthofBostonhome.com
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If you, friends, relatives, or colleagues are considering buying or selling a home, condo, or land, please consider contacting Sven for assistance in your search. Sven coverage area includes: Winchester, Belmont, Medford, Woburn, Lexington, Arlington, Melrose, Stoneham, and Reading.  We also offer a complimentary referral service, called "Anywhere Agents," to assist folks who are looking to buy or sell outside our coverage area, including international locations. We will interview prospective agents in the area(s) you or a family member are considering to assure you get the most knowledgeable Real Estate Professional to assist in your home buying/selling needs.