#1, Don't panic. Don't let emotion creep in. No matter what the offer is, you NEED to respond in some why with a counter offer! See below for details.
Hey La Mesa, it's hump day and it's also time for another edition of Real Estate Life Hacks, where I take questions from you guys off the Internet about La Mesa Real Estate and I answer them for ya.
I got one from Susan in La Mesa, CA And Susan asks, this is going to be for sellers, "What do you do if you receive a low ball offer on your La Mesa home when it's listed for sale?" Okay, well the number one thing is don't get pissed. It's not personal. The most important thing to do is to 100% respond in some way. Don't just throw it off and just ignore it, because you don't know what the La Mesa buyer's intention is.
So my suggestion is, of course, counter offer. Now counter offering depends on what you feel the buyer is trying to do. Home Buyers will sometimes offer a low ball offer thinking, "Well, the Home seller will just meet me in the middle, so I'll offer something low and then they'll start coming down and we'll meet somewhere in the middle."
Well, they can think that all they want, it doesn't mean it's going to happen. So if we get a ridiculous low ball offer, what I advise my Seller clients typically to do is to respond to the counter offer for about $1,000 to $2,000 below asking price.
The reason why is the market we're in now is a Real Estate seller's market, so I'm going to get market price for this San Diego property unless it's disgusting or there's something really wrong with it. So I'm going to hold out for that.
Just keeping it around market price, I know I'm going to get it. If I don't hear back from those home buyers, then we know they weren't serious and we don't have to worry about it. So again, the first thing, number one is, and don't be upset and don't take it personally. Just make sure you respond and we'll go from there and we'll eventually get the price that you want.
I hope you guys enjoyed this. I hope I answered your question, Susan. And I'll see you guys next Wednesday.
Please go to my YouTube channel. Search my name, Chris Melingonis, and I have all this stuff up there. And you can like me on my social media, on Facebook @TheRealtorDad and at @chrismproperties on Instagram as well.
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