Home Buying: Step 4 - Negotiation of Terms (the Counter Offer)

Sometimes, even after submitting a fantastic offer on a property, you can get a counter offer in return! But this is where we add some of the most value in the entire transaction. By working together, we are able to negotiate with the Listing Agent and Seller better than most agents. And because we are together a lot, we tend to strategize about our client's offers and terms to see how we can always put you in the strongest position.

The "Regular" Counter Offer:

The seller may counter for any of a thousand reasons. Many have little or no material impact on your monetarily. Many times the counter offer will deal with contractural items that will not affect you financially. And other times the Seller just wants more money. A recent offer made by our buyers received a counter offer with a long list of items. I almost had a heart attack when I first saw the faxed counter offer. But they were all little contractual things that did not affect anything financially or monetarily. After I explained each item to the buyers, they happily signed the counter offer are looking forward to closing on their new home soon.

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 The Multiple Counter Offer:

This is when the seller receives mutliple offers on their property and they counter two or more of the offers. The Seller can counter in price, terms or both. The counter offer (in all forms) is essentially the "new price" for the property. Buyers can 1) walk away and make no offer, 2) meet the counter offer at the terms stated in the counter, or 3) offer a higher price and/or better terms. Each property, offer and situation is so different that you will probably do one thing in one circumstance and another thing in another situation. We will always give you all the information and data you need to make the best decision possible. To date none of our clients have ever regretted buying their place for the price/terms they bought it for!

(Click here for Multiple Counter Offer)