Tips on the art of home purchase offers

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Home buyers now have more negotiating power than they have had in years. However, that doesn't necessarily make it easier to decide how much to offer. The goal is to buy the property at the best price and on the best terms. But, you don't necessarily get there by offering a very low price. One agent was ushered to the front door when he presented an offer for a buyer who thought there was no harm offering way less than the asking price. The seller was insulted by the buyer's very low offer. After much encouragement by his listing agent, the seller finally issued a counteroffer. But the episode didn't sit well with the seller who was less than cooperative throughout the transaction. Another seller who received a very low offer debated long and hard about whether to counter the offer at all. He was inclined to reject the offer and tell the buyers to make another offer if they really wanted the house. He ended up countering at a price that was close to the asking price to send the me...