Today’s buyers do not have it easy. There are few homes to chose from, tremendous competition from other buyers with large down payments and the uneasy feeling that interest rates might go up. Many buyers find themselves in multiple offer situations and tensions are high.
If you submit an offer to one of these hotly contested homes you might be one of the lucky buyers who gets a counter offer from the seller. Here are the most common counter offers:
- A price much higher than you offered
- The dreaded “Best and Final”
- Terms that strip away your contingencies and comfort zones
- A combination of all of the above
The most common buyer’s reaction: “Is the seller crazy?”
You might be tempted to walk away. In this next installment of my Buyer’s FAQ video series I tell you how to keep a level head and make a sound business decision.