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How would you respond to a ridiculous offer (the property is wonderful and priced appropriately in the market, the market is kind of sluggish but not seriously a problem)
Don’t respond at all
Simply counter with something you would accept
Restate the listing price?
Counter with a price above asking?
How would you respond to a ridiculous offer (the property is wonderful and priced appropriately in the market, the market is kind of sluggish but not seriously a problem)
Don’t respond at all
Simply counter with something you would accept
Restate the listing price?
Counter with a price above asking?
This is all incredibly subjective.
What is list price, what is offer price, how are comps priced?
Take the personal feelings out of it and give us the numbers; only then can any response/advice be given that would be at all worthwhile
As a seller, I love lowball offer because I can "use" them. Usually other buyers come and ask: Do you have an offer now? My agent is advised to say: YES, we have multiple offers. I can't tell you the price. But deadline is XYZ.
What is list price, what is offer price, how are comps priced?
Take the personal feelings out of it and give us the numbers; only then can any response/advice be given that would be at all worthwhile
Not asking for opinion on the listing price. I’ve been in this game for 40 years. Just wondering how others would respond to a low ball offer. Assume its properly priced and the offer is outrageously low ball. WWYD?
Status:
"I didn't do it, nobody saw me"
(set 2 days ago)
Location: Ocala, FL
6,487 posts, read 10,363,068 times
Reputation: 7945
I would counter with an offer at a lesser price, but not your absolute lowest acceptable price. That option was not listed in your poll. I have never heard of a seller choosing your 4th option, but maybe you mis-typed that one.
Just my opinion, but there may be more information about the property that has not been shared entirely. Did the buyer have an inspection done on the property ?
Never show your cards in a poker game to your opponents until the game is over.
I would counter with an offer at a lesser price, but not your absolute lowest acceptable price. That option was not listed in your poll. I have never heard of a seller choosing your 4th option, but maybe you mis-typed that one.
Just my opinion, but there may be more information about the property that has not been shared entirely. Did the buyer have an inspection done on the property ?
Never show your cards in a poker game to your opponents until the game is over.
Oh, you’re right, I should have offered the option to respond like it was a normal offer.......
You respond like it is a normal offer and counteroffer like you would. You come down off of list price slightly if that is what you would do with a non-lowball, non-full price offer.
There are some people that just need to throw out the lowball to see if you are desperate to take it and then engage in normal negotiations once you counter back that you aren't. Number 4 is an immature response, in my opinion.
I would not respond at all. If the agent or broker followed up, I would tell them that was a ridiculous offer and if they wanted to submit a legitimate offer to please do so. Of course, if you are an agent representing someone, you must PRESENT the offer to them - but the seller gets to decide how to respond (or not).
I would respond. We were offered 10% below asking on our properly priced home, which is also the lowest priced home in our neighborhood. It's in the mountains, so the homes are not selling super fast, but not terribly slowly either. The offer came in about 5 weeks after we put it on the market. I countered back at full price but they had wanted closing costs paid, so we agreed to that. We were 2 weeks from closing when the buyers backed out over something they felt was a deal breaker. It was an easy fix and was completed within days, but their agent had freaked them out. So we are back on the market.
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