Princeton Town Topics – Let’s Talk Real Estate – April 15, 2009
OFFERS AND COUNTER-OFFERS–Part 1
The beginning of negotiations on a home sale transaction is usually the end of plenty of hard work for the buyer or seller. The work ahead requires professional skill in order to maintain a strong position.
Sellers can lose their advantage if they do not counter an offer that a buyer has made. Even if the opening offer is beneath what the seller feels is reasonable, it is advisable for the seller to respond with a slight reduction in the asking price. The most important component in negotiating the price and terms on real estate is good communication.
The best way to handle a low offer is to counter it with definite terms that are favorable to the seller. A counter offer has two advantages: 1) it keeps the buyer interested, and 2) it moves the negotiation forward and gives the buyer the opportunity to submit another offer that the seller is more likely to seriously consider.
