Compass

3 Factors to Consider Before You Counter an Offer to Purchase

by Lorrie French 02/02/2020

You don't need to be a home selling expert to counter a buyer's offer to purchase your house. In fact, sellers who know what factors to consider as they evaluate a homebuying proposal may be better equipped than others to submit a successful counter-offer.

Now, let's take a look at three factors a seller should consider before countering a buyer's offer to purchase his or her home.

1. Your Home Selling Goals

If an initial offer to purchase your home falls shy of your property selling expectations, there is no need to stress. By countering this proposal, you and a buyer may be able to find common ground. And as a result, both parties may be able to come to an agreement on a house sale.

Analyze your home selling goals closely. And if you find a buyer's offer to purchase comes close to helping you achieve your goals, you may want to submit a counter-proposal.

2. Your Home's Condition

The condition of your home may have far-flung effects on your house selling experience. If your home is in need of assorted upgrades, a buyer may be more inclined than ever before to account for these repairs in his or her offer to purchase. Meanwhile, as a home seller, you need to consider your residence's condition as you assess an offer to purchase and proceed accordingly.

If you feel a buyer's initial offer to purchase your home is low based on your residence's condition, you may want to counter the proposal. However, if you account for the costs of potential home repairs in your counter-proposal, you may be able to come to terms with a buyer on a home selling agreement.

3. Your Home's Price

Although you may have allocated significant time and resources to price your home appropriately based on the current real estate market's conditions, you may receive an offer to purchase that falls short of your expectations. Fortunately, if you submit a counter-proposal, you can make it clear about what price you are willing to accept for your residence. And if you provide a counter-offer to an initial homebuying proposal, you can show a buyer exactly how much he or she will need to pay to purchase your house.

As you analyze an offer to purchase your home, keep in mind that you can always collaborate with a real estate agent too. If you work with a real estate agent, you may be able to gain the insights you need to make an informed property selling decision.

Typically, a real estate agent can help you weigh the pros and cons of accepting, rejecting or countering an offer to purchase your house. If you are looking for in-depth home selling recommendations and suggestions, a real estate agent is happy to provide them to you at your convenience.

Assess an offer to purchase your home carefully – you'll be glad you did. If you feel you may be able to reach an agreement with a buyer, you may want to counter his or her homebuying proposal.

About the Author
Author

Lorrie French

"Where the Accent is on Service”

DRE#00910990

Lorrie is a San Francisco native and has 30 years of experience as a realtor/broker.  She knows the heartbeat  of the city.  From Russian Hill to SOMA from the Bayview District to the Marina, you’ll find her helping buyers and sellers handle their real estate needs.  Lorrie’s expertise in marketing, negotiating, and achieving results could be beneficial to you.  She takes pride on her ability to listen, communicate and most importantly, care about her clients.

  • Realtor designation - 1986
  • Graduate, Realtor Institute - 1992
  • Certified Residential Specialist - 1997
  • Broker designation - 1999
  • Senior Real Estate Specialists - 2005
  • Certified International Property Specialist - 2017

Lorrie is associated with:

  • California Association of Realtors
  • National Association of Realtors
  • Woman’s Council of Realtor
  • Past Director on the San Francisco Association of Realtors’ board
  • Director on the California Association of Realtors
  • Serves on the Legislative Committee and Professional Standards of the San Francisco Association of Realtors                             

She is active in the American Cancer Society, neighborhood associations, and Friends of the Urban Forest.  Her activities include yoga, biking, golf, and walking.

Lorrie attributes her success to experience, market knowledge, professionalism, and excellent communication.  Lorrie believes that buying or selling a home should be left to a professional -- not to chance.  Like with any major investment, one should be careful to seek out the best advice and assistance available. This is where Lorrie stands out; in fact, her track record of proven success and client satisfaction is the best assurance of the same outstanding service you will receive when you buy or sell with Lorrie.  She invites you to contact her and explore how she may assist you in a purchase or sale in the City by the Bay.