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As a seller, if a buyer presents an offer and basically says "this is it" and that they will not be making any other offers, etc. - do you still counter?
We recently made an offer on a home and agreed that this would be our only offer, no counters, etc. Our agent said that she told this to the seller's agent.
We have not yet heard back as apparently the seller is out of the country on business. Should we anticipate that the seller will still counter? I really just want a yes or no answer since we don't want to negotiate back and forth - we gave our best offer.
I would still counter. The worse that can happen is a "no". I've been told before that this was the last offer only to counter and have it accepted. The only thing about doing that is I was careful in my counter to be fairly close to the supposed last offer.
I have had many sellers counter with a take it or leave it, and most just tend to reject them, unless it is a decent offer. Most take it or leave it's tend to be really low.
I think our offer was fair for the house. It needs several improvements/updating and is overpriced for the area (it has been on the market nearly a year).
So, if we gave a take it or leave it offer and the seller decides to try to counter, and we say no, can they then just decide to say okay, I'll take it? I'm guessing they can, but does that change the procedure at all?
I think our offer was fair for the house. It needs several improvements/updating and is overpriced for the area (it has been on the market nearly a year).
So, if we gave a take it or leave it offer and the seller decides to try to counter, and we say no, can they then just decide to say okay, I'll take it? I'm guessing they can, but does that change the procedure at all?
I think the door should always be open to negotiation. When you give people an ultimatum, such as a take it or leave it offer, the seller may may not bother countering because you've told them that this is the final price. So why should they bother countering if they don't want to accept your final offer?
If you have lots of properties that you want to make offers on, and don't really care if you get a particular house, then that's ok to give offers that way. It will save you time. It shouldn't matter to you if the seller counters because you aren't going to negotiate anyway. So once the time for acceptance has passed, then just go on to the next one.
I've found that leaving room for negotiating is more productive because it gives both parties time to find out what the other parties need and to work at some mutually acceptable solution.
As a seller I didn't counter if a buyer said their offer was final. I respected their right to say 'take it or leave it'. In my experience these were always lowballs but YMMV.
If you haven't heard back, you can assume it's a 'no'. Their agent will get in touch with you if that's not the case. I wouldn't worry about it, but move along.
Yes, we have spoken with the seller's agent and she says he has not even seen the offer because she can't get ahold of him since he is out of the country. We'll just see what happens, that's all we can do.
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