East Coast Properties, LLC

Factors to Consider Before You Counter an Offer to Purchase

by East Coast Properties, LLC 02/09/2020

You don't need to be a home selling expert to counter a buyer's offer to purchase your house. In fact, sellers who know what factors to consider as they evaluate a homebuying proposal may be better equipped than others to submit a successful counter-offer.

Now, let's take a look at three factors a seller should consider before countering a buyer's offer to purchase his or her home.

1. Your Home Selling Goals

If an initial offer to purchase your home falls shy of your property selling expectations, there is no need to stress. By countering this proposal, you and a buyer may be able to find common ground. And as a result, both parties may be able to come to an agreement on a house sale.

Analyze your home selling goals closely. And if you find a buyer's offer to purchase comes close to helping you achieve your goals, you may want to submit a counter-proposal.

2. Your Home's Condition

The condition of your home may have far-flung effects on your house selling experience. If your home is in need of assorted upgrades, a buyer may be more inclined than ever before to account for these repairs in his or her offer to purchase. Meanwhile, as a home seller, you need to consider your residence's condition as you assess an offer to purchase and proceed accordingly.

If you feel a buyer's initial offer to purchase your home is low based on your residence's condition, you may want to counter the proposal. However, if you account for the costs of potential home repairs in your counter-proposal, you may be able to come to terms with a buyer on a home selling agreement.

3. Your Home's Price

Although you may have allocated significant time and resources to price your home appropriately based on the current real estate market's conditions, you may receive an offer to purchase that falls short of your expectations. Fortunately, if you submit a counter-proposal, you can make it clear about what price you are willing to accept for your residence. And if you provide a counter-offer to an initial homebuying proposal, you can show a buyer exactly how much he or she will need to pay to purchase your house.

As you analyze an offer to purchase your home, keep in mind that you can always collaborate with a real estate agent too. If you work with a real estate agent, you may be able to gain the insights you need to make an informed property selling decision.

Typically, a real estate agent can help you weigh the pros and cons of accepting, rejecting or countering an offer to purchase your house. If you are looking for in-depth home selling recommendations and suggestions, a real estate agent is happy to provide them to you at your convenience.

Assess an offer to purchase your home carefully – you'll be glad you did. If you feel you may be able to reach an agreement with a buyer, you may want to counter his or her homebuying proposal.

About the Author
Author

East Coast Properties, LLC

You can trust Mary Merkley with your real estate business! Mary is a career Realtor, having enjoyed the real estate business for 30 + years; she is extremely knowledgeable in all aspects of buying and selling property. Besides having fun with her clients and enjoying meeting their real estate needs, Mary is a diligent and discreet broker as she represents her client buyers and sellers doing what is truly best for them. Mary is a seasoned Real Estate Broker licensed in both Maine and New Hampshire. She has a vast knowledge of the NH and Maine seacoast area having started her business in her home town of Dover, NH.Additionally, Mary is a licensed and bonded Auctioneer! She has the capacity to offer liquidation needs in both "personal property" as well as in"real property" for her clients anywhere in the seacoast. Mary's experience covers the following Seacoast towns: Dover, Durham, Rollinsford,Rochester, Somersworth, Newmarket, Barrington, Northwood, Strafford, Hampton,North Hampton, Stratham NH; and in southern Maine, Kittery, South Berwick, York,Cape Neddick, Kennebunk and Wells area. In addition to excellent service, Mary is detailed oriented and because of her love for the business is a pleasure to work with and goes above and beyond what is expected. Mary has also assisted many of her clients with property staging needs whenever necessary. One transaction at a time, Mary's clients have rewarded her careful work with their "repeat" business, by also referring their family and friends to her.