Well, our house hit the multiple listing service (MLS) the night before last, and three families came to look at it yesterday. Last night our realtor called to say that we had received a lowball offer from the first people that looked at it. On top of an insultingly low offer (especially considering the house has barely even been on the market), they’re not pre-approved, they’ll need 100% financing if they can even qualify, and they asked for a couple of things that we explicitly said weren’t included, and aren’t negotiable (including our kids’ Rainbow play structure). And they only put down $500 earnest money. We didn’t even dignify it with a counteroffer. Rather, we responded (through our realtor) that they should get pre-approved and then come back with a realistic offer. On the bright side, we’ve had a considerable amount of interest already, which suggests that it’s not wildly overpriced.
For more information on moving, check out my Roadmap for a Successful Relocation.