4 Reasons to Respond to Every Buyer's Offer | RealtyPin.com
LOS ANGELES, March 1, 2013 /PRNewswire-iReach/ -- As the real estate experts on Realtypin.com have pointed out, the nation's home values are still below their pre-recession levels. So, if you're trying to sell your home, you want to get as much out of the transaction as you can. As a result, you may be tempted to ignore all of the offers that don't look exactly right. But here's why that's a big mistake:
1. Because you never know what they're going to come back with
Some buyers start out with ridiculously-low offers just to test the waters. Then, once you counter with something more appropriate – and they figure out they're not going to be able to get your home for next to nothing – they come back with an offer that you can actually live with. But if you had dismissed their original offer altogether, you would have missed out on a serious buyer!
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2. Because you don't know who you're dealing with
As things start to pick up in many markets, there are lots of sellers that are fielding multiple offers. So, they go with who they THINK is the best buyer. The only problem is, they don't know any of these people from Adam. Unfortunately, those first impressions aren't always accurate! If you set your sights on one particular offer – and ignore all the rest – you might wind up with the "lemon" of the group. The buyer who seemed great at first may not have gotten pre-approved, and they may not be able to get financing after all. Or, they may be too tough to deal with to get a final offer hammered out. So, like the children's fable goes, don't count your chickens before they hatch!
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3. Because you can't predict the future
If you're lucky enough to get an offer right after you list your home for sale – even if it's not quite as high as you were hoping – don't ignore it. After all, you don't know how long it's going to be before another offer comes along! And, the longer your home sits on the market, the lower your chances are of actually getting your full asking price. So, at least come up with a counter for that early-bird offer. If it doesn't work out, you can always turn it down. But don't get cocky right in the beginning. Otherwise, you might really regret it in a few months!
4. Because you don't know what your neighbors are going to do
Right now, you may have the only home for sale on the block. However, that could change tomorrow! Don't think that you can ignore less-than-perfect offers because you're the only "horse in the rodeo", so to speak. All it takes is one other listing to give you some competition!