home has been on the market. Valuable time has been wasted. By shortening that time, you shorten your overall number of marketed days if this deal doesn’t go through.
NEGOTIATION TECHNIQUE #5: PAY THE PIPER, BUT RAISE THE PRICE
Buyers are increasingly asking sellers to pay their closing costs, which are usually around 3% of the actual price of the home. I know it makes you shudder to even think of handing out that kind of cash. However, this kind of deal could work to your benefit. I’ll explain in the next chapter.
POINTS TO REMEMBER:
• Accepting a low offer locks you into a contract, preventing you from accepting further offers. • By rejecting a lukewarm offer, you encourage competition and higher bidding. • Consider rejecting a low offer if your house is newly listed or you’re planning an open house soon. • Refusing to accept bids until after an open house could create a bidding war in your favor. • Setting an expiration date for your counteroffer encourages a buyer to either complete a quick sale or release you to accept more lucrative offers.
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