buyers to offer rock bottom prices. You will need to decide beforehand whether you will accept that kind of offer or not, and you need to apply some rules to this choice. Often, there might be a concern that those offering to buy the property for cash and making poor offers are flippers looking to renovate and resell the property. Even if this is true, though, it need not be a matter of concern for you as long as your objectives are met. Additionally, though they might carry a lower price, cash offers are advantageous in the sense that you will no longer need to worry about the property appraisal or whether the buyer can get a loan. If they can close quickly, cash offers are always better, provided that you can manage to settle on a price that’s not too far outside the range you were hoping for. If you come across a low offer that you feel is not so damaging, then it might be good to accept it as-is rather than making an aggressive counteroffer that scares off the buyer. If you still have some patience and time, you might make a reasonable counteroffer and assess the response from the cash buyer. This will let you know whether the deal will work or not. If you get too many low offers (and most of them fall within a particular range), then you have reason to recheck the price you quoted. In particular, you will probably want to look into whether the comparative market analysis was done properly. Consider who did it for you, whether a local agent or an appraiser, and consider requesting a new assessment from a different source. If you arrived at the figure yourself by browsing through some listing websites, then you might have made a grave mistake. Take advantage of the MLS and arrive at the right price so that you can effectively deal with offers that seem too low.
NOT ENOUGH OFFERS
If market activity in the area surrounding your listing was high during the weeks immediately following the listing, you might
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