Counter Offer
Dealing with a counter offer requires a good knowledge of the going price of the property in question. In many transactions, there is a fair amount of negotiation – offers and counteroffers – before both parties are satisfied. This is one aspect of a real estate transaction in which an agent is invaluable. Not only can an agent draw upon his or her experience and market knowledge to offer sound advice during a negotiation, but he or she can also serve as a buffer between the buyer and the seller/seller’s agent. Negotiating for a home can be a highly charged and emotional process. But the most emotional buyer will look like one cool customer behind the right agent, and in the end, you usually wind up with what’s important to you.
There are many things that need to be taken under consideration when making a counter offer. It is important to make the right calculations to make sure that the price paid for a property is not beyond the properties value compared to other properties in the neighborhood. This is very important because the property might not be appraised for the price of the counter offer when the lender sends his/her appraiser to appraise the property. If the counter offer is above the appraised value then the buyer will be forced to pay the balance amount of the appraised value from his/her own pocket in cash.
Amiri Realty can help you make the right counter offer or even suggest to walk away from the deal depending on your financial situation and the comparative market analysis it has completed before placing the original offer. It is always important to have an in mind what is the highest amount of money you want to spend on purchasing the real estate property in question before making the initial offer. A counter offer should still be within your maximum price limit for the real estate property you want to purchase.