If your house has been on the market for quite a while (3 to 6 months), you may have already dropped your price and now you’re waiting for the buyers to rush in and make wonderful offers on this now-priced right property. And then it happens. The lone buyer does appear, like a bandit in the night and offers you even less than what you just agreed to. Quite a bit less — about 10 percent less. So on your $350,000 house, that you just dropped to $324,000, you now have an offer for $299,000. With a seller subsidy request of $5,000. At this point, your net is $294,000.

So how do you handle such a low-ball offer. Well, first of all — don’t panic, get angry or lose sleep. Especially, don’t reject the offer right off the bat and tell them to come back when they’re serious. Remember, it’s now a negotiation game and the buyer IS serious or he or she would not have made an offer. Several things have happened before this offer came in. The buyer, with his agent, has researched the market, walked through as many as 30 or 50 properties, conducted a study on the value of the property and written an offer for your house. Remember, you just won the lottery. They could have written on any other house, but they selected yours. So let’s get busy. First of all, do an analysis of your own goals and needs. How much do you really need to come out of this house to meet your goals of moving to your next home? What could you really live with and what amount are you going to counter. Remember this last point — what are you going to counter? This is assuming that you’re not rolling over and that you’re going to stay in the game.

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