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The Counteroffer Conundrum
Tuesday, October 25, 2011
Selling a home can be a challenging task. However, with these tips, you can make a decent counter offer and net in thousands more than you would have ever expected! When we buy houses
, we have to look at the location and quality of the land as well as the structure of the house. It's just as important for the seller to make their house safe and clean for the buyer.
First, an important step to making a good counteroffer is to observe the buyer. The reason they are buying a house can help you develop a decent counteroffer. Someone that is moving because of a job may need to purchase quickly and may be more inclined to agree more quickly. Determine this by asking the buyer indirect questions to find out more about why they are buying the house.
Next you'll want to recheck the area property values. Don't forget to factor in any additions you have made to your home such as an extra bedroom and anything your house may lack compared to other homes in the same area. A counteroffer that is too high can end negotiations.
Reiterate what the buyer liked about the home. Remind them again why they won't want to wait to close the deal: a possible raise in interest rates or another buyer has offered as well. Don't be too pushy about it, though. Remember, you are selling a home, not a used car! Adding perks to the counteroffer can entice a buyer like offering an earlier or later closing date depending on the situation or free appliances (without warranty) included with the home.
We buy houses
through real estate agents, but they can also help to see if the counteroffer you have made fits with the area and value of the house. These agents have experience in buying and selling homes and their advice can be invaluable when finding out whether your offer is reasonable or not. You may even want to delay the counteroffer a 1-3 days after the buyer has offered to consider other offers you received.
Finally, it's time to put up the counteroffer. Generally, this is handled by your real estate agent, but it is a good idea to be there in person. If the buyer returns an offer that doesn't meet your price, it may be a good idea to lower your counteroffer. With these tips, you should be able to make a decent counteroffer and come away with much more money than you planned. Happy selling!