When you’re selling anything in general, you don’t want any lowball offers. Although it is a viable strategy to haggle down the price of an item that a seller is selling but sometimes the offer is so low it’s already kind of disrespectful.
We’re here to help you avoid lowball offers by spotting signs or red flags within the conversation when you’re talking to a potential buyer.
Most of the time, lowball offers happen for a reason. Some people would give out lowball offers just because, but most buyers would look at a couple of pieces of information first before deciding to give out their offer. So here are the reasons why people give out lowball offers.
Repairs
If you’re selling your home As-Is you can pretty much expect that any potential buyer will give you a lowball offer. It’s just how it is. Mainly because the buyer will be expecting to have repairs on the home. They will also be hiring people to inspect the home to know the exact things that need repairs or replacements. If you’ve lived in the home you’re selling for a long time but didn’t do any repairs on it, chances are you’re gonna get a lowball offer right off the bat.
Kinds of potential buyers
Cash buyers
There are multiple types of home buyers out in the wild but we’ll be summarizing them in a few categories. One of those buyers are cash buyers. They are a great option for when you need to sell a home fast. An example would be if you’ve inherited a home that you don’t want through Probate and you lived outside the state the property is in then cash buyers are your best potential buyers in order to sell that particular property quick & easy and generally they don’t care what condition the home is in.
MLS Buyers
One type of potential buyer as well comes from MLS. You can get cash buyers here as well but you’ll also get other kinds of buyers. You can think of it as posting a For Sale sign on your yard but the reach is nationwide instead of just local people who drive by the place. Sometimes buyers from MLS would request you to repair the home first or have a couple of changes before they buy the property. Transactions from MLS usually take a bit more time than cash buyers transactions.
Not knowing the worth of your home
Most sellers just don’t know what their home is worth, especially first time sellers. It is understandable if you don’t know how much your home is worth especially if it’s your first time selling a home. If you’re talking to a potential buyer and you specify that it’s your first time selling or you don’t know how much your home is worth and you’re just want to get rid of it then that’s a big sign that they’re about to give you a lowball offer simply because you don’t know the worth. So in order to know an approximation of how much your property is worth so you can avoid these lowballers is to do research. One easy way to know how much your home is worth is by going to Zillow and looking for homes in your area that have specifications that are as close to the house you’re selling as possible so you can get an idea how much you should be asking. One more easy way is to hire a realtor and you just need to specify that you don’t know the value of your home and they’ll do the research on that for you as well. Yes, it’ll cost you for hiring a realtor but it’s quick, easy, and they are readily available.
In this video Mr Foxy himself will explain how to avoid getting lowball offers.
In Foxy Home Buyer we don’t lowball anyone. We give out fair offers and the highest possible price that you can get for your home for as little as 9 minutes. With our Guaranteed Sale Program we can give you our Foxy guarantee that we will buy your home. You can reach us by filling out the form on our website www.foxyhomebuyer.com and we will call you as soon as possible or you can call us at 866-404-3699.
"The Mayora"
Krissie M
Customer Relations Manager
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