A reverse offer is simply where a seller instructs the realtor to pitch those buyers who have seen the home but failed to make on offer. More and more agents are suggesting to their sellers that they go back to those buyers and make the deal more attractive. In addition to price reductions, some are offering to pay closing costs or throw in a flat screen TV if the buyer will reconsider and their home. According to a recent report by Zillow, the drop in home prices has now surpassed the drop in values during the Great Depression. Thus, this new strategy is gaining popularity with sellers who want to sell and prevent further declines in the value of their homes. Read more
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