Handling Problem Offers
When the sellers aren't willing to accept your customer's offer, you must be prepared to respond. Here are four common problems that sellers have with offers, followed by sample responses to the situation.
Problem #1: Offer is too low.
Your response: "I understand your disappointment, but I'm required to present all offers. Now, you have three options. You can accept it, you can reject it, or we can do something to keep it alive. Why don't we see what we can do to make the contract acceptable?"
Problem #2: Downpayment is low.
Your response: "Buyers today are not much different than you were when you purchased this house. They don't have a lot of savings. The fact that these buyers have managed to set aside $10,000 in today's economy speaks well of them."
Problem #3: Too many contingencies.
(A contingency clause is a condition that makes the sale subject to some action or lack thereof).
Your response: “I understand that these terms aren't exactly what you had in mind. But they are offering full price, and perhaps they would agree to a short time frame to sell their home.”
Problem #4: I want my lawyer to review the offer.
Your response: I understand you want the contract to be correct, but keep in mind that my company uses a standard contract form approved by our local REALTOR® board. Also keep in mind that the buyers can change or withdraw the offer at any time until you sign.
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