Profile picture for St__Nick

Accept a low ball offer, because of this scarce market?

Underpriced SFR in the best neighborhood in town!  At $274K it is a bargain.
  • August 09 2009 - Fort Collins
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (5)

First of all, you would need to know if it really is a 'lowball' offer. Some sellers are attached to the home they are selling and the time and money they have put into it and are not realistic about what a 'fair offer' actually is. It is very important to have the most up to date information on your neighborhood, what is selling and under contract, and how much per square foot those homes are listed for. If your listing price is higher than what is under contract and recently sold - then a lower offer is not a lowball, it is a fair market value offer. If it is not higher per square footage in comparison and the quality is similar, then you would be wise to hold out for a fair offer, or counter the lowball offer with a fair offer and be prepared to show comps to justify the counter price.
  • June 08 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Cashflow is key. If the delay is going to drain your cash reserves, take the offer. Some brokers recommend playing the "Highest and Best" counter request game. I have found this to backfire in today's market often scaring scarce buyers away. On the other hand, Colorado's market is rebounding. I am seeing resale values rise and foreclosure prices fall, which is the perfect time to buy and sell. Ok, here come the spam, you should get a broker involved to assist you with this determination of sell or hold, based on taylored advice.
  • August 31 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

order an appraisal. much cheaper than loosing thousands. a drive by is only 200.00
  • August 31 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

While I would also be very cautious about accepting a low ball offer...of course there are many other factors to consider, including but not limited to:

*How long have you had it on the market?

*Has the property been adequately marketed to date?

*Has the property been in it's best showing condition?

*How "clean" is the rest of the offer...any contingencies?   When do they propose to close?

If you find yourself wanting to make a deal, and you accept their number, you might consider asking them to pay the closing costs, etc.

Best, Tommy



 
  • August 10 2009
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If you're home is in Fort Collins and under $300k the market for you as a seller is not scarce unless your price is too high.  If you're not working with an agent, get one.  If you are, they should be able to tell you what your home is worth and give you  a very solid idea  of what your home should sell for in this "market". 

Sellers price their homes in 3 different ways.  They price it to sell, they price at market, and they dream price it.  If you price at market you should expect at least market marketing times.  If you dream price it, you're looking at 6+ months easy.  If you price it to sell or below market you can expect your home to sell in less than average marketing times and if you really price it right it should sell in a matter of weeks.

Don't let 1 lowball offer discourage you. There are a lot of misinformed buyers out there that assume that they can steal a house in our market and they will soon find out that the homes that they are lowballing on are all going under contract and selling for good prices. 

If your home is priced right, it will sell and probably sooner than you think.
  • August 10 2009
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.