Saying no sometimes takes you exactly where you want to go. Just don’t stop there. Reject their offer, but invite them to resubmit a higher bid. That takes some of the pressure off you. A deal like this can go several ways. The potential buyers usually won’t expect you to take their first bid, and they might be throwing out a lowball offer just to see how far down you’re willing to go. You can send your own little message by rejecting that less- than-desirable offer, but keeping them in the loop. They’ll realize they ventured far too low. If they sincerely want your property, not just a bargain, they will likely come back to you with a much higher bid. In the event the bidders really want your property, out of all the properties available, this procedure can work well. However, you are likely to lose the deal if this is just a person gobbling up cheap real estate the way some people gobble cookies. While that may seem bad at first, in retrospect it leaves you completely open to better offers in the future.
USEFUL TIPS
• It’s most desirable to use this approach when your home has just come on the market or if you have an open house scheduled soon. • Keep in mind that whole legal counteroffer
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