# How to Handle Offers



## moonspinner (Jul 2, 2002)

I'll be putting my modest property for sale soon and wondering about offers. Do I tell a potential buyer the offer is too low? Do I say how long I'll be considering them? Any insight on this part of sales greatly appreciated.


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## Alice In TX/MO (May 10, 2002)

Yes, you tell them if their offer is too low.

You need to know your target price and the lowest you will go. 

Have you had an appraisal done?


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## Clem (Apr 12, 2016)

I've always used a one word response. Yes or No. My experience has been that if people believe you're interested in dickering, they'll dicker. If they believe you're going to sell or not based on whether their offering price is acceptable, the second price they send around is usually a lot closer to what you need than a month of dickering will get you.


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## moonspinner (Jul 2, 2002)

Thanks. This is just a couple acres w/older mobile and I know what it's worth so that's not a problem. I'm also not one of these people who puts the price at a ridiculous high hoping to shoot for something unreasonable. What I see of so many places is absurdity.


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## ticndig (Sep 7, 2014)

I'm selling my place as well . I want 200.000 so priced it at 225.000 . they counter offered at 200.000 and I said oh ok I'll take that . set a little higher than you want so they feel good at buying at a reduced price and you get what you wanted all along .


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## muleskinner2 (Oct 7, 2007)

Figure out what you would like to get, then what you would settle for. Then when people make you an offer you can tell them yes or no. Don't be in a rush.

Muleskinner2


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## Wolf mom (Mar 8, 2005)

Professionally, the rule of thumb is to price your property within 5% of your bottom line. You can always counter offer if you think the offer is too low. Sometimes it's not quite that simple though. If the buyer wants a carryback, at, lets say 8 % interest, you may lower your price a couple thousand as you'll be making money on the interest from the carry back. Conversely, since you're not getting all your money at once, you can raise the price as you are doing the buyer a favor. Everything, yes, everything is negotiable.


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## Fishindude (May 19, 2015)

Determine how much you want for the place, then price it a bit higher to give a little negotiating room. Some people just feel better after they beat you down on price a little. Your response can either be a straight yes or no, or a counter offer somewhere between.


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## mnn2501 (Apr 2, 2008)

You can (and should) always do a counter offer. If you don't, some people will think you're not interested in selling.


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## MoonRiver (Sep 2, 2007)

I find pricing at least 10% over price I want usually works. People like to feel they got a deal, so they get 10% off asking price and I still get what I want.

You can't sit on an offer waiting for a better one to come along. You need to respond to an offer in a "timely" manner. You also need to decide if you are willing to pay 3% to a real estate agent that brings a buyer.


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