Newsflash: How should I handle a lowball offer as a seller?

Comps justified putting my 1BR/1BA condo on the market for $469K. I have had almost 35 showings during the 21 days the property has listed, but to date, only one offer.Offer came from the first couple to view the property after listing 21 days ago. They are trying to put pressure by lowballing at $440K (6% below list). As this is an investment property, I am in no rush to sell, but am hesitant to pass up an offer on the table. My Agent suggests countering with $455K, but I really don’t feel comfortable dropping so much off list, especially with the showing traffic.21 days on market is long for this area. I am losing money for every month I carry the property, but not at a rate to justify dropping almost $15K. How should I approach the lowball offer?

Read more at https://www.reddit.com/r/RealEstate/comments/75nagb/how_should_i_handle_a_lowball_offer_as_a_seller/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s