What Are The Common Reasons Sellers Counter Offers?

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Understanding Real Estate Options After struggling for years to figure out my finances, I finally made the decision to buckle down and start saving for a house. It was difficult at first, but I knew that I had to do whatever I could to get into a different place. I was tired of renting and I didn't want to live in someone else's house, so I began working with a real estate agent to figure things out. Within a few short months, I was able to find a great home that had the kinds of amenities I wanted. I decided to make a blog that reflected different real estate options people have, so here you are.

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As a homeowner, you will have the right to accept or reject any offer you receive for your home. Additionally, you have the right to counter an offer. When you counter an offer, you are taking a risk that the buyer may back out of the deal by not agreeing to your counter, so you will need to proceed with caution if you want to do this. Many sellers do end up countering offers, though, and here are some of the common reasons this happens.

The price is not high enough

The most common reason sellers counter the offers they receive is because the prices are not high enough. For example, if you are selling your house for $199,000 and receive an offer for $180,000, this offer might be way too low for you to accept. If you feel this way, you could counter the offer at a different price, such as $191,000, or whatever price you would accept. If a buyer makes a lowball offer, such as $150,000 on a house priced at $199,000, it would not be uncommon for the seller of the house to simply reject the offer, as the buyer is simply offering a price that is not even close to the amount the house is probably worth.

There are too many contingencies

Sellers also commonly counter offers when buyers are asking for too many things, and this is typically listed in the form of contingencies. For example, a buyer might offer a decent price for the house but might also ask you to pay $5,000 in closing costs and ask you to remodel the entire kitchen. If a buyer asks for too many things, it is quite common for the seller to counter the offer by removing some of the contingencies.

The seller received multiple offers

The other reason sellers may counter an offer they received is if they have received multiple offers on the house they own. If a person is selling their house and receives two offers that are very close, the seller could counter one of them. If it falls through, the seller would still have the other offer to work with, so there would not be as many risks with countering the offer.

If you are selling your house and receive an offer for it, you should thoroughly discuss your options with your realtor before making a decision about how you should handle it.

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