Risks Of Countering An Offer You Receive For Your House

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Risks Of Countering An Offer You Receive For Your House

16 May 2017
 Categories: Real Estate, Blog

Selling a house is not always an easy task, simply because this is a huge purchase. People looking for a home to buy will take their time to make sure they choose the best one for their needs. Because of this, you should take every offer you receive seriously so you can decide how to handle it. If you receive an offer that is not exactly what you hoped for, you have the right to counter it; however, when you do, there are several risks to be aware of.

The buyer will reject it

When an offer comes and you accept it, the deal will go through unless the buyer runs into some type of problem. If you counter an offer, on the other hand, you are giving the decision back to the buyer, and he or she could reject your offer. If this happens, the deal will be off, and you will have to look for another buyer. This is the main and biggest risk you take when you counter an offer you receive, and this is why you should seriously consider accepting the offer if it is anywhere close to what you had hoped for.

You might have to accept a worse offer later

Another risk you take is that you may never get another offer that was as good as the first. This can happen in some cases, and it forces homeowners to sell at prices that are lower than what they wanted. It can also cause a homeowner to accept a price that is lower than the original offer he or she received and countered.

You will still be playing the waiting game

The third thing you should realize is that when you counter an offer, you will have to wait to hear back. In other words, the deal will still not be over. You will still be in limbo while you wait for the buyer to respond to your counter offer.

If you receive an offer, even if it is less than what you hoped for, it might be best to accept the offer and earn a slightly smaller profit on the sale. If you don't, you could face all of these risks, and you might even have to spend months looking for another buyer that wants to purchase your home.

When you receive an offer on your home, talk to your spouse or a close friend about it, and discuss it with your agent. To learn more about offers and counter offers on new homes, talk to a real estate firm like Fischer Homes