Purchase offer and negociation

Once you have selected the right home to buy. You may need to figure out how much to offer to buy that home can be daunting. Buyers are concerned that if they offer too little, they will risk insulting or alienating the seller. If they offer too much, they could overpay.

Should I ask a Realtor to determine how much to offer? NO, It's Not the realtor's Purchase, It's the buyer's decision because it will be the buyer's home. When the transaction closes, the buyer will make the mortgage payments and be responsible for maintaining the home, not the realtor. Many buyers are much wiser than they give themselves credit for and are fully capable of selecting a price to offer.

To make a seller receptive to your offer, make the seller feel a connection to you. Showcase your vulnerability and sincerity in a letter. Make the seller feel as though you are the perfect buyer.

We offer a free purshase offer form click here

Remember, no one knows more about the house than the owner, Buying from the owner gives you the chance to ask questions directly.

Counter Offers

Sellers Can Be Irrational

Many sellers think their home is worth much more than it is actually worth. If you want further evidence, try counting the number of listings (Comparables) that sell at their original listed price. You'll find a large percentage will have had a price reduction.

Counter offers are generated by a home seller after a buyer has submitted an offer to purchase. Typically, counter offers will state that the seller has accepted the buyer's offer subject to the following particulars. The following particulars can address such items as:

  • Total consideration (generally a higher price)
  • Refusals to pay for certain reports or fees
  • Altering closing or possession date
  • Excluding personal property from the contract
  • Modifying contingency time frames

What's a Normal Number of Counter offers to Expect?
Just as a seller can submit a counter offer to a buyer, a buyer can counter the seller's counter, which will then become a counter-counter offer. There is no limit to the number of counter offers that can be submitted back and forth.

How are Counter Offers Rejected?

The seller is not required to respond to an offer. Here are the most common ways to reject an offer:

  • Many purchase contracts provide a spot near the bottom for the seller to sign that the offer has been rejected.
  • Most offers specify a date of expiration of offer in the event the seller elects not to respond.