When to Walk Away from a House Negotiation: Advice for Sellers
Lowball offers and crazy buyer demands have you wondering when to walk away from a house negotiation. How to know when it's time to move on.
It’s not a scenario any seller wants. Maybe your potential buyers keep asking for concessions on top of concessions or think they can take their pick of your furniture. Enough is enough, and the situation has you wondering when to walk away from a house negotiation.
If buyers are difficult to work with, it may be in your best interest to back out of the deal. Sellers should consider walking away from a deal if any of these situations apply:
- A buyer’s requested concessions get out of hand
- The countering offers are lowballing the property
- A buyer doesn’t put forward the necessary funds
- A buyer threatens to walk away multiple times
- The property’s appraisal comes back too low and the buyer won’t budge
- The moveout timeline is not feasible
Knowing when to walk away from a house negotiation can save you time, money, and tons of stress in the long run. The tricky part is to understand whether the buyers you have are worth working with or if it’s better to scrap the deal and start from scratch.
Work With Top Agent to Navigate Your Home Sale
Top agents bring experience to the entire home selling process, including when negotiations get difficult. What’s more, they can help sell your home faster and for more money.
We checked all the facts with Kenny Klaus, a top real estate agent in Mesa, Arizona, to bring you the most insightful and accurate guidance possible when dealing with difficult would-be buyers.
Klaus points out, “Usually, when it starts off that way, it doesn’t get better. If [the buyers are] already like this now, we’re probably saving ourselves a bunch of headaches and money by just walking away.”
These are the red flags to look for when negotiating any home sale.
Talk to your real estate agent about frustrations and concerns
Your best bet in any home sale negotiation is to default to your real estate agent. They will know your local market and your house best. They’ll also be able to predict whether another offer is around the corner or if a new bid could take months to get.
Speak with your agent about the status of your home sale and your neighborhood’s real estate market, and keep these issues in mind if the sale gets rocky.
