Dealing with competitive bids is a basic part of real estate – especially when you’re in hot markets like the Methow Valley.
Real estate in winning communities is highly sought after. Nothing’s worse than placing a bid on your dream home only to get back a counteroffer. What’s worse, a full-priced counter offer is even more difficult to deal with.
This is a common pain point for real estate buyers. But, don’t stress out too much. Apply our 3 expert tips to help deal with full-priced counteroffers.
Negotiate as Best as You Can
Many buyers find it difficult and stressful to negotiate on price points. However, by skipping out on negotiating, you could end up missing out on an awesome deal.
Negotiating is the best way to respond to a counteroffer. Try to work the seller down to a realistic price that’s within your budget.
The best way to prepare for negotiations is due diligence. Take a deeper look at the sale and look at why the seller decided to make a full-price counter offer. Whether it’s the property’s amenities, location, or market fluctuations, try and see why they’re asking for that price tag.
Finding out their motives can give you more leverage when negotiating.
The more you know, the more you’ll be able to work with the seller. For example, you can try to compromise on other points of the deal. Maybe the seller is willing to close the deal quickly or adjust some other aspect of the sale to make up for the lower price.
Don’t Lose Hope
Just because the seller hit you with a full-price counter offer doesn’t mean interested buyers should lose hope. On the contrary, buyers are actually expected to make a second counteroffer.
This back and forth conversation is all a part of the real estate business, and it’s more likely to happen when you’re shopping in a seller’s market. Buyers should not walk away from a deal just because the seller gave them a big-budget counter offer. Stay calm and don’t lose hope – you didn’t lose the property bid, yet.
Whether the seller has a change of tone and drops the price or you negotiate your way down, it’s possible to bring the property’s agreed selling price down to an amount you can handle. Anything is possible so make sure you’re staying optimistic until the very end.
Work with a Coldwell Banker Winthrop Realty Agent
Finally, the best piece of advice for navigating full-priced counter offers is to work with one of our real estate agents.
Coldwell Banker Winthrop Realty agents are experienced professionals who are experts at navigating real estate sales. They will be able to land you the perfect deal and find the home of your dreams. Even if you’re hit with a full-priced counteroffer, your trusted real estate agent will have a winning strategy up their sleeve to combat that lofty price tag.
I hope this advice helps you tackle full-priced counter offers with ease. Visit our website to browse through available homes for sale in Winthrop, and check out the CB Winthrop blog for more real estate tips.