Should You Counter an Offer to Purchase Your Home?

by Eva Del Rosario 12/15/2019

If you're on the fence about whether to reject or accept an offer to purchase, it is important to remember that a third option is available: submitting a counter-offer.

Ultimately, deciding to submit a counter-offer can be a tough choice for first-time and experienced house sellers alike. But we're here to teach you about the benefits of counter-offers and ensure you feel confident to submit a counter-proposal as needed.

Let's take a look at three tips to help you decide when to submit a counter-offer.

1. Assess Your Residence

Although the initial asking price for your house is not set in stone, you likely have expectations about how much you should receive for your home. But if a homebuyer submits an offer to purchase that falls below your expectations, you should assess your residence to help you make the best-possible decision.

Try to take an objective view of your home – you'll be glad you did. For instance, if you discover your home is one of many similar properties available in a buyer's market, you may want to accept an offer to purchase, even if it falls below your expectations. On the other hand, if you feel that your home is in great condition and you receive an offer to purchase that is short of your initial asking price, you may want to counter the proposal or reject it altogether.

2. Review the Housing Market

Housing market data can help any home seller make informed decisions throughout the property selling journey. There is plenty of housing market data at your disposal, and you should not hesitate to use it, especially when you analyze an offer to purchase.

Oftentimes, it helps to look at the prices of recently sold residences, the prices of available residences in your area that are similar to your own and other pertinent housing market data. With this information, you can gain deep insights into the housing market. Then, you can determine whether an offer to purchase falls in line with the current state of the real estate sector.

3. Work with a Real Estate Agent

There is no need to review an offer to purchase on your own. Fortunately, if you hire a real estate agent, you can get the help you need to perform an in-depth analysis of any offer to purchase.

A real estate agent is a house selling expert who will allocate the necessary time and resources to help you review an offer to purchase. He or she can provide a recommendation about whether to counter a homebuying proposal and explain the reasons for this recommendation as well. Plus, if you ever have concerns or questions about an offer to purchase, a real estate agent is happy to address them.

Should you counter an offer to purchase? The answer depends on the home seller, the real estate market and other factors. And if you use the aforementioned tips, you can perform a full evaluation of an offer to purchase and proceed accordingly.

About the Author
Author

Eva Del Rosario

Mission Statement:

A positive influence to my clients and to the people around me by demonstrating to them that anything is possible if you put your heart and mind to it.

Professional Philosophy:

Eva works hard for her clients to fulfill their “American Dream” of homeownership. 

She excels at:

  • Negotiating for the best interest of her clients be they sellers or buyers. Excelling means win/win for both parties.
  • Resourcefulness, diligence, patience, attention to detail and an ability to adapt to the unexpected.  Managing client expectations and communication clearly and often throughout the transaction.
  • Keeping a transaction together means flexibility in communication, really knowing and understanding the client’s needs and desires and continually updating the changes in the market and Real Estate laws.

Personal Information:

Eva has lived in the San Francisco Bay area since 1983 with her daughter.

She knows the value of home ownership. She began her involvement in Real Estate as a homeowner and an investor. 

Eva based her business on providing the role of a trusted advisor to all of her clients. 

She takes her clients’ need very seriously and treats each and every transaction as if it was her own. 

She prides herself on her solid reputation and is dedicated to providing the highest quality service along with enthusiasm, dependability, and commitment to building lasting relationships.

Interest:

Gardening, traveling with family and friends and volunteering her time for the needy organization.

Summary:

License Real Estate Agent since 2001

License Life Insurance Agent  2008