Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
whenever I sold or rented anything I know I’m gonna negotiate most of the time. Whenever I get a offer I respond.. Regardless how good or bad it is. If it’s a offer I find unrealistic I simply thank the person for the offer and I give them a offer back. Sometimes I know I’m well priced and I simply thank them for the offer but I decline.
I rather negotiate but there are tons of people who are simply fishing for the deal because they have the mentality that if it’s being sold they must be hurting for money. And there is the i only have this much to buy and I’m gonna troll for someone who will come to my price.
What people need to understand is that in 90% of the transactions the buyers and more importantly sellers are emotionally attached. Imo sellers more than buyers. It’s very rare that both a buyer and seller find the transaction a business transaction. It usually escalates to “ F U . You’re trying. To screw me “ or “ F that I’m not gonna give that bastard any of my money or F that guy I’m not gonna sell him the house he can go F himself.”
Again both parties lose.
I myself got to the point where negotiations weren’t goin anywhere and I simply said thank you have a nice day. And I did t see anything wrong with that.
Eh, I would pass along that they said that and then encourage my client to just reject it. I don't like it when sellers ignore offers as I always prefer to give a response, even a rejection.
I would just reject and say we are too far apart on perceived value and wish the buyer the best of luck in their search. Negotiations have to have good faith and if it is presented as "best and final" I will encourage my seller to take that as a good-faith communication. It is actually one of our fiduciary duties in Oregon. To be honest and act in good faith so I see no need to waste time with something that should be honest communication.
Maybe the difference on "waste of time" is that we don't do written counteroffers and negotiations.
It is phone, email, text, and a new or marked up document is created when we have a meeting of the minds.
It takes no longer to reply with continued engagement than it does with rejection, so I have no issue dancing.
Or, as I like to say to deal nukers, "Just take the other offer."
"What other offer?"
"The one that is so much better than the one you are kicking away."
" But, I don't have another offer."
"Then let's dance with the one we have."
I've seen too many "insult offers" turn into sales to approach it differently.
If it is really a ridiculous offer, i tell them that we are too far apart to even counter, give them addresses of good comps and offer to send them listings more in their buyers price range.
I dont know why people make this so difficult, or make it so personal. You have item A, you price it as A. Someone comes along and offers you B for it, as his best and last offer. Whats so hard about a simple No, we cant accept your offer as it is.
I have chickens, and sell on our local Buy and Sell website. I often get people making offers that are lowballed, sometimes half price or less. When they email with "will you take x$ for them?" I simply email back and say no.
Its not personal, its negotiation tactics. The fact that the op calls the offer "outrageous" shows he doesnt understand.
I looked at a farm a few years back (1.3mm, 190 acres). It was an income producing farm, not rich but not losing money either.
Just noticed the farm was relisted, new barns but otherwise unchanged but with NO mention of the income producing part. I literally looked at the listing 3-4X before I realized they are selling just the farmhouse and 15 acres. The income producing part is NOT for sale yet the listing price is now 1.6mm despite the land being 175 acres less now.
This would be a case where I would easily offer 40% less than list price or maybe even 40% of list price! I suspect the sellers are hoping the buyer doesn't realize what has been taken out of the deal since the property last sold. If you look at it quick you just think they are trying to make 300K in 3-4 years but in reality they are trying to offload the less desirable part of the property and keep the income producing part.
Seems reasonable to me. Using that phrase is as much a negotiation tactic as anything else, and in case they do not mean it, a response that allows everybody to continue with some grace seems warranted.
Perhaps...Sorry that we are unable to accept your best and final of $x/terms. Our last response still holds, and should your circumstances change to where you are able to improve on your most recent offer, please submit a modified offer.
Well, in my situation, I was buying a year before I needed to move, so I was in the catbird seat. I had plenty of time to find another house. It had become clear that the sellers were motivated. They had put themselves in a financial position where they really needed to sell. When it comes down to it, which party wants the deal more can be the determining factor on how the negotiations go.
I looked at a farm a few years back (1.3mm, 190 acres). It was an income producing farm, not rich but not losing money either.
Just noticed the farm was relisted, new barns but otherwise unchanged but with NO mention of the income producing part. I literally looked at the listing 3-4X before I realized they are selling just the farmhouse and 15 acres. The income producing part is NOT for sale yet the listing price is now 1.6mm despite the land being 175 acres less now.
This would be a case where I would easily offer 40% less than list price or maybe even 40% of list price! I suspect the sellers are hoping the buyer doesn't realize what has been taken out of the deal since the property last sold. If you look at it quick you just think they are trying to make 300K in 3-4 years but in reality they are trying to offload the less desirable part of the property and keep the income producing part.
Robert Kiyosaki used a similar example in one of his “Rich Dad” books to illustrate wealth creation. He and his wife bought some acreage, then sold the part they didn’t want for more than they’d paid for the whole.
You’ve posted about the farm before, I think. What the sellers are doing isn’t wrong or immoral. Every buyer should do due diligence.
I dont know why people make this so difficult, or make it so personal. You have item A, you price it as A. Someone comes along and offers you B for it, as his best and last offer. Whats so hard about a simple No, we cant accept your offer as it is.
I have chickens, and sell on our local Buy and Sell website. I often get people making offers that are lowballed, sometimes half price or less. When they email with "will you take x$ for them?" I simply email back and say no.
Its not personal, its negotiation tactics. The fact that the op calls the offer "outrageous" shows he doesnt understand.
I do understand its not personal. But the offer is indeed outrageous. And I wondered how other would respond. Was not asking for advice. Just made me curious.
I looked at a farm a few years back (1.3mm, 190 acres). It was an income producing farm, not rich but not losing money either.
Just noticed the farm was relisted, new barns but otherwise unchanged but with NO mention of the income producing part. I literally looked at the listing 3-4X before I realized they are selling just the farmhouse and 15 acres. The income producing part is NOT for sale yet the listing price is now 1.6mm despite the land being 175 acres less now.
This would be a case where I would easily offer 40% less than list price or maybe even 40% of list price! I suspect the sellers are hoping the buyer doesn't realize what has been taken out of the deal since the property last sold. If you look at it quick you just think they are trying to make 300K in 3-4 years but in reality they are trying to offload the less desirable part of the property and keep the income producing part.
I’ve seen this splitting done with large properties in my area, but never with a home that is not attached to much acreage. Probably irrelevant to the OP.
years ago on cable tv the late night infomercials ….were all about ...approaching owners selling real estate and low balling them.....get talking to them see how behind they are...and what do they need to get above water again (finances) or if there's an illness...
I had a buddy that did this and low balled even the listing properties...…..
half the owners would talk to him.....and yes some fsbo's were in chaos...
those were the most vulnerable...being behind on their bills...
also....some folks have no issues offering 122 for a listing of 222 … they figure the worse they can say is no..
when I bought the house im at I was a young yahoo....and wanted to lowball.....by 50k.....but I had to do it thru the listing broker and she just said you are wasting your time....they will take it personally...and wont want to sell it to you for even a good offer.. but I wanted the property so I didn't risk it...….so I offered within 10% and she said its a multiple offer situation...I knew one of the other parties..offering and he wouldn't tell me what he offered.... anyways I offered what I could and got the place....
but left on my own without a broker to filter...id have pyssed the old owners off ….for sure
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
