As a homeowner, your home is likely a source of pride. Therefore, when it comes time to sell your Alamo Heights home, you have a good idea of what it is worth.
It therefore may come as a bit of a shock to receive a less-than-thrilling offer from a potential buyer. Your first reaction may shock, followed by disgust. The Alamo Heights home that you have put your heart and soul into maintaining, repairing and updating certainly is worth more than what the buyer is offering, but in this tumultuous real estate climate, how do you know when to settle and how do you know when to stand your ground?
A Flat Rejection vs. a Counter Offer
For most homeowners, the idea of completely rejecting the offer may occur to them at the offset. This is not the time, however, to let your emotions get in the way of a sale. You must remember that many buyers are simply "feeling you out;" so instead of flatly refusing the offer, consider responding to their offer with a counter offer. Your counter offer will likely let the buyer know that, although you are not prepared to settle for their offer, you are stilling willing to negotiate. Once the buyer has returned with a revised offer, you can make the decision whether to continue with the negotiations.
When to Continue to Negotiations?
It is, however, important to remember one thing: although the process of negotiating and submitting counter offers is frustrating and time consuming, it can result in a sale. If the buyer continues to counter offer with unacceptable offers, you can request more information from the buyer regarding the reasoning behind such a low offer. As a seller, you are going to have a rock-bottom price for which you will settle, so always keep that in mind during negotiations. Finally, don't let your ego get in the way of a sale. Although you may feel your home is worth more, if market conditions dictate otherwise then you must be willing to make concessions regarding the price of your Alamo Heights property.