If the buyer doesn’t buy the house, you can always change your mind and continue to try and sell it. After all, lying, cheating, and stealing are wrong. But there’s nothing wrong with changing your mind!
POINTS TO REMEMBER:
• Accepting a lowball 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. • Paying closing costs for the buyer—usually 3 percent or so—can work in your favor, if the buyer is willing to pay a higher price for your home. • If you’re being taken advantage of in a negotiation, you have the right to take your home off the market, at least temporarily.
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