Receiving an offer for your property is the first step in selling it. However, it’s undeniable how many potential buyers would give you an offer that is below your asking price, after all, every person wants to be on the better side of the deal. If you happen to be a seller who received an offer that is below what you hoped for, you can still manage to counter act the offer and make things go your way. Just get the details right and things can go as you planned. Here are some tips:
What Should The Price Be?
Your agent may have already told you what your property is priced based on current market, which is why you may already know how much or how less your property could be sold. So if the offer given to you isn’t that far off from what you are asking, it would be okay to counter it with your original price. Many buyers just take a chance in asking for a discount, but are actually willing to pay full price, especially when your original price is based on current markets and not an overpriced one.
Meet In The Middle
This technique is simple and can work for both parties. For example, your client offers a $10k difference, what you can do is offer to drop $5k instead. But of course, this doesn’t work with every offer as a bigger discount means a bigger loss for you even if you meet in the middle. This just applies if the offer given to you isn’t miles away from your original offer.
Other Factors
Keep in mind that it isn’t only about the price, there are also other things to consider. If you ask a buyer to pay more, they could ask you to pay for some of the closing costs. Also, if the buyer asks for a lower price, you can also take out some goods included in the original deal such as the home’s high end furniture or appliances.