Factors to Consider Before You Counter an Offer to Purchase

by Sterling Realty Group LLC 12/17/2018

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

Sterling Realty Group LLC

Here's what I can tell you as a tenured licensed associate real estate broker in Michigan. 

- Dedication and continuous real estate education keeps me at the top of my profession. 

*FOR SELLERS- Many qualified buyers are looking to buy a home like yours right now! We have more buyers than properties available.
Why don't you reach out to me and let me guide you in researching putting your home on the market? 

*FIRST TIME HOME BUYERS - Let me help you get pre-approved. Banks are offering low rates. Many loan programs are available, some Zero down. Owning a home could be cheaper than rent! Why don't you reach out to me and let's talk through the different financing options available. 

*INTERESTED IN PURCHASING A LAKE FRONT HOME? Sterling Realty Group LLC serves the hundreds of lakes in Hillsdale, Lenawee, Jackson and Branch Counties. Specializing in the "Irish Hills" (US 12 from the northeast corner of Hillsdale County, taking in the northern portion of Lenawee County and most of southern Jackson County into Washtenaw County) The beautiful Irish Hills contains many lakes, state parks, and Michigan International Speedway. What kind of lake are you considering? ( all-sports=speed boats/jet skis or a fishing=no wake rule) What acreage, depth, base, or lake chain do you want? Want kind of fish can be reeled in? Approximate distance from my metropolitan area? 

Here's what sets me apart from other real estate agents.

From saylesmm; Belle is fantastic, very personable, knowledgeable and she communicates in a very timely manner! She made selling our home an easy experience. We highly recommend her and would definitely use her services in the future.

From qlockwood; Belle did a wonderful job of managing the whole selling process for us. We had two houses listed with her and we closed on both of them at one location back to back same day. I recommend her to friends and family.

From user90038804; While it was a long drawn out process thanks to our lender, Belle hung in there with us and kept the sellers from pulling out. This was our dream home and it’s ours all thanks to her!

From misseann2003; I worked with Belle Stier to purchase my home and really can’t say enough good things about her. She is knowledgeable, approachable, personable, endlessly patient, and incredibly generous with her time (including mornings, evenings, and weekends over the course of several months 

From user14997761; Belle helped me buy a foreclosure home. Was very helpful and responsive. I actually recommended her to my grandparents when they were trying to sell their home. If I'm ever looking again I will definitely give her a call.

From Angie; We appreciate everything & have been giving your name out as a realtor.