Have you ever heard of opportunistic buyers? These people want to buy your business, but this is not their primary aim. Usually, they have no genuine interest in the company other than it would make them a tidy profit. As a seller, this type of buyer can be frustrating because they are unwilling to provide you with a fair price and terms for your house for sale. In addition, they have little intention of actually proceeding with the sale. Business owners find dealing with opportunistic buyers disheartening, annoying and unproductive.
It would be best to prepare for opportunistic buyers when you’re selling your business. They’re not necessarily the problem – they need to be managed correctly.
Some Useful Tips For Tackling Opportunistic Buyers:
Acknowledge Their Offer And Request
When you’re contacted by an opportunistic buyer who offers less than market value for your property or house for sale, acknowledge their offer and ask why they’re willing to pay less than the total price. If there’s something about your listing that needs attention — or if there’s something about the market. Acknowledge the offer and ask for it in writing. Most of these offers will be low, but it doesn’t hurt to acknowledge them and ask for a request in writing. Then you can evaluate it on its merits.
Do Your Research
It is essential to understand the market position before you make a decision. This should include an analysis of your current sales and offers and researching what other similar properties are on the market. Make sure you have a thorough understanding of your industry and your competition. This will give you a better sense of the value of your business and how much it’s worth today – and in the future – so you can plan accordingly. You don’t want to undersell or oversell because either can have a significant impact on your financial situation down the road when you retire or move on to something new.
Evaluate Your Market Position
Your real estate agent will discuss with you the current market conditions and how they affect your property or house for sale. In some cases, it may be best to take the offer. In other words, it may be worth holding out for more money. While this may seem like a simple solution to a complex problem, there is no one-size-fits-all answer. It also pays to know where you stand in the marketplace. Are you at the top of your game? Or is this a good time to exit? Again, this will help with context when evaluating offers that come in from opportunistic buyers.
Present Your Counter-Offer
If you feel that the buyer’s offer is not reasonable, then ask them to reconsider their offer or present a counter-offer of your own. When dealing with an opportunistic buyer, present a counter-offer that’s below your minimum acceptable price. Make a pitch of your own, and emphasize what makes your property value. It’s always good to negotiate and reach an agreement that satisfies both parties. In your counter-offer, you can suggest a higher price or request some other incentive such as a closing cost contribution from the buyer.
Negotiations
If the price offered is ridiculously low, it’s probably not worth considering; however, if it’s slightly lower than your asking price and they’re bringing cash to close on the deal quickly, it may be worth considering. If possible, try negotiating with them by offering something of value but at no cost to you — for example, agreeing to pay some of the closing costs or offering a credit at closing for repairs based on an inspection report. Negotiations can get complicated when a sale is a contingent upon the buyer’s sale of their own home. In such cases, it’s imperative to know if the buyer has made an offer on another property before deciding on whether or not to accept their offer.
Multiple Buyers
When you have multiple buyers interested in your home and perhaps even offers, you need to determine how motivated each buyer is and if any issues may cause them to have difficulty closing the property. It’s also important to know about any liens or judgments against their name.
Improve Your Property’s Appeal
If the buyers are not interested in negotiating, you can make necessary improvements that will improve the value of your property before putting it up for sale again. This will help attract more potential buyers willing to pay the total price for your home.
Conclusion
In short, yes, it is possible to have a successful transaction with opportunistic buyers. But this kind of seller can be very risky to deal with because their intentions may change on the fly. So if you’re searching for a great deal on a home or piece of property, there’s no reason why you shouldn’t try to get it. Just make sure your offer matches the other party’s price, and you have the appropriate protections in place if they back out without warning. With those precautions in mind, you should be able to enjoy your newfound space without too much frustration.
