How Should You Respond to a Low-Ball Offer on Your Home?

By Zak Himmelberger

Zak has been serving the many families he's worked with as a trusted Realtor since 2013. As a native Phoenician, he knows the ins-and-outs of the market like no one else.

If you’re planning on selling your home in Maricopa County this spring, you need to be prepared to receive a low-ball offer. Housing market activity has slowed since interest rates stagnated around 7%, but prices are still high in most markets due to low inventory.

Dealing with low-ball offers requires strategy. Today, I’ll go over how you should strategically react to a low-ball offer to ultimately get the deal you wanted all along.

1. Always counteroffer. It may feel insulting, but countering is usually worthwhile unless you suspect bad faith from the buyer. If they reject your counteroffer outright, it’s likely they were just testing the waters or seeking an unprepared seller.

If the buyer rejects your counteroffer immediately and insists on their low-ball price, you can safely walk away knowing they were probably just fishing around for a deal from unprepared sellers.

2. Compromise on other terms. One of the reasons why your buyer may have offered a low-ball price upfront is because they don’t have enough money to offer the full asking price. Dig deeper into the buyer’s situation. They might be open to negotiation on other terms if they’re constrained by budget. You can offer concessions on price in exchange for favorable terms elsewhere, ensuring a win-win outcome for both parties.

For example, if you need a longer close, a shorter inspection period, or other contingencies waived, you might be willing to budge on price.

If price remains a sticking point, consider sweetening the deal by offering to cover some of the buyer’s closing costs. While dealing with low-ball offers isn’t enjoyable, it may be necessary for achieving your desired outcome in selling your home.

Feel free to call, text, or send me an email if you have any questions about navigating the spring market. I’m here to assist you.