buyer then offers $10,000 less than your asking price but agrees to close quickly without any financial or inspection contingencies. While the first buyer offered more money, the second buyer was more appealing timewise. If you were under a time constraint, the second buyer solved your problem. How did he know about the time constraint? You might have inadvertently disclosed it when he asked why you were selling.
Do: Get the last concession
Remaining calm and focused during the counteroffers is the key to getting the last concession. By asking the buyer to give something in return every time they come back with another request, you gain the upper hand, and they will start backing away from making nonessential demands. The less they think they can get away with, the less they will ask for beyond what they really need. They might be afraid you will request a concession that is important them, and come to understand that letting you have the last concession will be the best deal.
Don’t: Become flooded with concessions
When a buyer submits an offer to you, unless it’s a fantastic one, you should bring counteroffers to the table. Perhaps a different price and/or concessions — such as quicker closing dates, terms, modifications of contingencies, or incentives — will enter the negotiations. When reviewing the offer, be sure to consider which items would be unacceptable to you. A counteroffer is used, in effect, to accept some (or most) of the terms of the buyer’s latest offer, while modifying other items. Since there is no limit to the number of times counteroffers can be made, make sure the buyer will have to wait for your response. Your eagerness to respond could be interpreted as desperation on your part, which, in turn, may give the buyer more leverage.
Do: Maintain a businesslike demeanor 130
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