his/her offer. For example, let’s say you have two interested buyers. One buyer offers full asking price, thinking that you will readily accept, but tells you she needs a few months to get financing finalized or to get inspections. The other buyer 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 time-wise. If you were under a time constraint, the second buyer solved your problem.
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 he or she comes back with another request, you gain the upper hand, and the buyer will start backing away from making nonessential demands. Counter and Concessions When a buyer makes an offer, unless it's an exceptional one, it's a good idea to present a counteroffer. This could involve a different price or concessions like a quicker closing date, changes to terms or contingencies, or added incentives. When reviewing an offer, think about any terms that you would not accept. A counteroffer allows you to agree to some parts of the buyer’s offer while changing others. There is no limit to how many times you can exchange counteroffers, so take your time. If you respond too quickly, the buyer might think you're desperate, which could give them more negotiating power. Keep a Business Mindset Remember, your goal is to sell your home for the best price in the shortest time. While the relationship between buyer and seller can vary, it's important to keep in mind that selling your home is a legal, business transaction.
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