When you’re trying to sell your land, you’re likely to receive some offers that are significantly below your asking price.
Sometimes when this happens, the land owner will reject the offer without a counter offer. This is a way of saying, “Your offer is so offensive to me, that I don’t even want to respond.”
But rejecting an offer without a counter offer is a very poor strategy for getting your land sold.
Think of it this way, you’ve done a lot of work to get your property on the market. Now, someone has come along and placed in your hand a legal document saying that they want to buy your property.
To reject without a counter offer is the same thing as going fishing and after all the effort to set up your fishing pole, put the bait on the hook, casting it out into the water, and when a fish bites, you don’t even try to reel it in.
You should always counter every low offer, every single time. Even if you reduce your price by the smallest amount, or maybe you counter by maintain your asking price, but adding that you will fix the gate at the front entry.
Rejection without a counter offer is telling the buyer his money isn’t good enough for you. That’s foolish. You can counter offer with only the tiniest of sacrifices. The point is you need to put the ball back into the buyer’s court so that he can amend his offer. If you reject an offer without a counter, the game is over. You’ve taken your ball and gone home.
Besides, you have no idea how much money the buyer has. He may start off with a low offer, just to test the waters. But he may be fully capable of giving you your entire asking price in cash. But if you reject his opening offer without any counter offer you will never know how much he was ultimately willing to pay.
You want to sell your land, you found someone who wants to buy it. He submits to you an offer that’s too low…Great, give him a counter offer, and have a land specialist realtor such as myself, provide him with a market analysis that justifies the price you are asking. If the buyer is serious, he will amend his offer and resubmit.
If you want to get your property sold….never reject without a counter offer.