Crafting a counter-offer that doesn't scare away a potential home buyer can be tricky. Here are five tips to help you navigate the negotiation process while keeping the buyer interested: Keep emotions in check: Avoid letting your emotions drive the conversation and try to remain objective throughout the negotiation process. Keep in mind that the buyer is also looking for a fair deal, and it's important to approach negotiations with a collaborative attitude. Understand the buyer's needs: Understanding the buyer's needs and motivations can help you craft a counter-offer that meets their … [Read more...]
Video: What Is A Counter-Offer?
What Is A Counter-Offer? The video puts this in more visual terms, but basically, a seller can respond to a buyer's offer with changes - a "counter" - that improves the terms.You need to put yourself in their shoes and construct a modified offer that you think they might take that meets more of your needs. Then it's their turn - accept, reject, or construct yet another counter.It's an efficient market process, but beware: clauses and costs matter. Your broker should be closely involved in constructing a counter. Successful bargaining is best done with a win/win approach where each side is … [Read more...]