The first one is easy. If the seller accepts your initial offer as outlined in the purchase agreement, you’ve obviously done something right. If the seller rejects your offer without countering in some way, there’s not much you can do but make a second higher offer. If the seller comes back to you with a counter-offer, the negotiating has begun.
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Is a seller required to respond to your offer to buy their house? Is it illegal or unethical for them to simply not respond? Many buyers ask these questions when they make an offer that gets no response from the seller. When a seller receives an offer, they can accept the offer as written, reject the offer, submit a counteroffer or do nothing.
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Seller concessions are one of the top reasons why a purchase offer is rejected however. A buyer who is asking for a large contribution from a seller must understand that even though the offer price was close to asking, the seller is still forgoing a large amount of money to help contribute to the buyers’ closing costs.
4 – I bet within 7-10 days the seller comes back and asks if you’re still interested. When they do, and they will come back with a counter that raises your original offer, your response will depend on if your original offer was your maximum "analyzed" price. A – If it wasn’t, then you have some wiggle room to counter.
The easiest way to define a low ball offer is a purchase offer from a potential home buyer that is low enough to insult the seller. Some home seller’s will consider an offer $5,000 below asking price a low ball offer while others will consider an offer $15,000 below asking price a low ball offer, it truly depends on the individual.
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· About the Author: The above Real Estate information on the home inspection repair requests a buyer shouldn’t make was provided by Bill Gassett, a Nationally recognized leader in his field.Bill can be reached via email at [email protected] or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for the last 29+ Years.