real estate

Negotiate best sale price on your 1st home

Delete the drama
Delete the drama © Tom Wang/Shutterstock.com

A potential buyer makes a lowball offer for your home. You respond with a cold refusal, followed by indignant silence. Or maybe a few heated words.

That's not the way to negotiate effectively. This is a business transaction. That means you meet a bid -- any bid -- with a counteroffer.

"Never ignore a lowball offer," Severance says. It's just an invitation to haggle, she says. "Always make a counteroffer. Never end the negotiation." She adds: "Sometimes the buyer will raise the offer significantly if the seller counters."

A volley of offers and counteroffers can go back and forth five or six times, she says.

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