Selling your house is a nerve wracking task. You have to balance your goal of selling your Huntsville, Alabama home and moving on to buy a Toronto condo with the reality of what buyers are willing to pay. You have to keep a tight handle on the negotiation process to make sure things don't get away from you. And above all you have to try to please the buyers enough to make sure they want your home enough to make an offer - even if it's not an acceptable one, because then you can counter offer. Here are some tips on how to counter offer.
When a buyer puts in a bid on your home that you feel is unacceptable, the first thing you need to do is figure out why you think the bid is unacceptable. Does it not take into account all the work you did on your Coboconk cottages? Does it not reflect the market value of the home? Do they expect you to absorb too many of the closing costs? Do they make unreasonable demands for fixes and upgrades before they'll close? Figuring out why you don't like the offer will tell you how to improve upon it.
You have two options when it comes to dealing with an unacceptable offer. You can reject it out of hand, or you can come back with a counter offer. Rejection can be a way of making a counter offer, because it says "this offer is much too low for this Leaside real estate." It tells buyers not to come back unless they're going to be serious next time. This is the kind of step you should take if the gap between your expectations and their offer is insurmountably large. But if a few shuffling steps can help you meet in the middle, a counter offer is the better option.
When you're thinking about how much to ask for in the counter offer, don't think so much about how much the Leslieville homes you want to buy afterward would cost as what your house is really worth. Also, meet with the buyer and think about the buyer's goals. Do they want to move in quickly? Do they want to share closing costs? Would they appreciate it if you replaced the door? Sometimes offering concessions on these items can allow you to come back with an offer for more money than would usually be done.
However much you decide to counter offer, make sure you're actually willing to sell the house for that much, and don't jump down to your minimum acceptable price all at once. Even if your Etobicoke real estate broker is encouraging you to meet them half way, this is a big financial decision and you shouldn't do anything that makes you uncomfortable.
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