So, it might help to picture this for just a second; there’s a new house you’re wanting to buy, you’re pretty sure you can afford it as long as your current home sells for a certain amount (as some mortgage brokerages do expect this in order to give you a higher mortgage). So then, the house is listed, the photos look great, and the open house had people poking around and nodding like they’re impressed. Well, makes sense, you took good care of the house.

Then the first offer comes in, and it’s not just low, it’s almost rude, like what are they even thinking?! And yeah, it happens more than people think. Basically, here, a house can feel “worth” a certain number in someone’s head, but the market doesn’t care about feelings, nostalgia, or how much was spent on that backsplash.

Figure Out if it’s the Market or the Listing

Okay, so before doing anything drastic, it helps to zoom out for a second. If nearby homes are selling for less than expected, or a neighbor’s sale dragged values down, that might be the whole story right there. And no, it’s not like this is a personal failure moment or anything like that, just timing. This is far more common than you’d think, like, it’s super common. But if similar homes are selling fine and this one isn’t, then yeah, something’s off. Plus, please keep in mind here that the asking price might be based on what the home “should” sell for, but buyers are staring at the most recent closed sales, not hopes and dreams. 

Do You Have Some Breathing Room?

What’s your reason for selling? For a lot of people, they just want to leave the neighborhood; they want a bigger home, especially if their current home is just a starter home (like wanting a family, for example). But if the only reason a low offer looks tempting is pressure, pressure to buy the next place, pressure to move, pressure to stop carrying two payments, then the real issue isn’t the offer, it’s the timeline. 

Now, every situation is going to be entirely different here, but a lot of people will explore bridging loans to help fill that gap between the process of selling their first home will they’re in the midst of buying their second home. There’s a lot of breathing room, and it can make things a lot less stressful. 

Remember, Low Offers are Clues

Well, a good chunk of the time, at least, some people lowball just because they can, and will. But if on average it’s low offers, well, there’s a good reason behind it all. Basically, the market here is giving some feedback. And this is the part that’s annoying, because it might mean the number in someone’s head isn’t the number buyers are willing to pay right now.

But of course, you could at least look into countering; it can sometimes be worth it.  So, a counteroffer isn’t just about price; it’s also about terms. A slightly lower price with a faster close, fewer repair demands, or stronger earnest money can feel a lot better than holding out for a higher number that never shows up.