How Do I Handle Lowball Offers or Buyers Trying to Renegotiate After Contract Signing on the Gold Coast?
Selling your home on the Gold Coast can be an exciting and rewarding experience—but it’s not without its challenges. One common frustration many sellers face is receiving lowball offers or dealing with buyers attempting to renegotiate after the contract is signed.
So, how should you respond if a buyer offers significantly below market value—or worse, tries to change the deal after everything seems locked in?
🤔 What Is a Lowball Offer?
A lowball offer is a purchase offer that’s significantly below the property’s market value—sometimes tens or even hundreds of thousands under asking price.
This can happen:
- In a slow market, where buyers feel they have leverage
- When the listing price is too high
- If buyers are testing your desperation
- After a negative inspection report
🎯 How to Handle Lowball Offers Professionally
1. Don’t Take It Personally
Low offers can feel like an insult—but remember, it’s just part of the negotiation process. Buyers may be testing the waters or following advice to “start low.”
2. Respond Strategically
Rather than rejecting outright, consider:
- Making a counteroffer near your ideal price
- Highlighting recent comparable sales
- Re-emphasising the value of the property (location, upgrades, unique features)
💡 Tip: If the buyer is genuine, a well-handled counteroffer can bring them up to a fair price.
3. Know Your Bottom Line
Work with your agent to define your lowest acceptable price and stick to it. Having clarity makes it easier to decline unrealistic offers without regret.
📝 What If a Buyer Tries to Renegotiate After Signing the Contract?
Under Queensland law, once both parties have signed the Contract of Sale, it becomes legally binding, subject to conditions such as:
- Building and pest inspections
- Finance approval
- Cooling-off periods
⚠️ Renegotiation Can Arise When:
- A building or pest inspection reveals issues
- The buyer’s bank values the home lower than the agreed price
- The buyer has buyer’s remorse or wants leverage to reduce price
📌 Your Options if a Buyer Tries to Re-Negotiate After Signing
✅ 1. Enforce the Contract
If all conditions have been met (e.g., unconditional contract), the buyer is legally bound to proceed. If they attempt to walk away or change terms, they may forfeit their deposit.
💬 2. Consider Reasonable Requests
If the buyer raises legitimate concerns (e.g., termite damage), you may choose to:
- Offer a price reduction or
- Rectify the issue before settlement
This is optional—not required—unless the contract is conditional upon inspection.
❌ 3. Refuse and Stay Firm
If their request is based on emotion or unrealistic expectations, you’re within your rights to refuse renegotiation and enforce the contract.
📅 Cooling-Off Periods in Queensland – Know the Rules
In Queensland, residential buyers typically have a 5-business-day cooling-off period after signing the contract (unless waived). During this time, a buyer can withdraw for any reason—but they may forfeit up to 0.25% of the purchase price.
After this period, buyers are locked in unless they exit via an unfulfilled condition (e.g. finance or building).
⚖️ Legal Protection for Sellers in Queensland
As the seller, you are protected by:
- The terms of the standard REIQ Contract of Sale
- The cooling-off period rules
- Clearly defined finance and inspection clauses
- Buyer penalties for wrongful termination after the contract goes unconditional
💼 Your solicitor or conveyancer will ensure the buyer’s requests and timing are valid, and help you respond accordingly.
👨💼 How I Help Sellers Handle Lowball Offers and Post-Contract Negotiations
As a local Gold Coast real estate expert, I help you:
- Price your property right to reduce lowball risk
- Prepare strong marketing to attract serious buyers
- Handle low offers professionally and confidently
- Navigate any post-contract turbulence with support from top legal professionals
- Stay in control of the negotiation process at every step
📞 Facing a Low Offer or Buyer Pressure? Let’s Talk.
If you’re on the receiving end of a lowball offer—or your buyer is suddenly changing their tune—I’m here to guide you.
Let’s ensure your sale stays on track and on your terms.
🙋♂️ Frequently Asked Questions
1. Can I reject a lowball offer without responding?
Yes, you can simply decline. But in many cases, a counteroffer opens the door to a better deal.
2. What happens if a buyer withdraws after the contract goes unconditional?
The buyer is in breach of contract and may forfeit their deposit and/or face legal action.
3. Can a buyer renegotiate after a bad building inspection?
They can request changes, but you’re not obligated to agree—unless the contract allows for it.
4. What if the buyer’s valuation comes in lower than the offer price?
If the contract is subject to finance, they may withdraw. However, a skilled agent can justify your price to lenders or help negotiate a middle ground.
5. Will I lose other buyers if I wait for one buyer to resolve their demands?
Potentially, yes. That’s why it’s essential to have tight timelines in your contract and keep backup buyers engaged when possible.
More Smart Seller Questions Answered
Should I Stage My Home When I Sell It on the Gold Coast?
Absolutely—Here’s Why If you’re asking, “Should I stage my home when I sell it on the Gold Coast?”—the answer is a confident yes. Professionally staging your home isn’t just about pretty furniture. It’s a strategic move that can lead to faster sales, higher offers, and a stronger emotional connection for buyers.
Staging highlights your property’s best features, makes spaces feel larger, and helps potential buyers visualise themselves living there. It also depersonalises the space, making it more neutral and appealing to a broader audience. On the competitive Gold Coast market, staging is a proven way to stand out—and sell smarter.
Author – Craig Douglas
Please Note: The information contained in this document is for general information purposes only and does not constitute legal advice. The laws and regulations governing the sale of property in Queensland are complex and constantly changing. It is important to seek the advice of a qualified property lawyer or conveyancer before making any decisions about the sale of your property. This document does not take into account your individual circumstances and may not apply to your situation. By reading this document you agree that you have not relied on the information contained herein and that you will seek independent legal advice before taking any action.
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This page was proudly created by Craig Douglas, your local independent Gold Coast real estate agent, working for a Boutique Real Estate Agency. Selling residential and commercial properties, from those that are awe-inspiring, through to a diamond-in-the-rough, otherwise known as a “renovator’s delight”.
I negotiate and sell on behalf of property owners who want to get the best possible price, with the least amount of hassle. Let’s talk about the process of selling your property over a coffee to get you started – 0418 189 963
