Made An Offer On An Ascension Parish Home and Got Countered?

 

Made An Offer On An Ascension Parish Home and Got Countered?

In this current market, you would be hard pressed as a buyer to not get countered if you’re trying to get a bargain on a home.  It is a seller’s market, and sellers are less willing to negotiate the listing price downward.  It’s possible but unlikely.  I just want you as a buyer to be prepared for a counter offer.

Why Was Your Offer Countered? 

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When you make an offer on a home in Ascension Parish one of four things can happen. The buyer can either accept, reject, counter or simply let the offer expire.  (Most offers come with an expiration date). So if the seller counters, there could be a lot of reasons.

  1. Did you offer way under asking price?
  2. Was the closing date too soon or too distant?
  3. Did you ask for too many items like pool equipment, refrigerator, washer, dryer or expensive window coverings that the homeowner treasured
  4. The sellers didn’t want to pay for a home warranty.
  5. You made the inspection period too far into the future.
  6. You asked too much for closing costs.

These are just some of the many reasons your offer could have been countered, so what do you do now?

What To Do When Your Offer Is Countered.

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Make sure to review your counter carefully with you Ascension Parish Realtor®. This is when having a REALTOR® at your side is most advantageous to put you, the buyer, in the best position.

Review all your comparables with you, REALTOR®.  You don’t want to overpay. Evaluate if you really need those closing costs.  Make sure your interests are being protected but you’re still going to win the house. If you see that there are issues with the home you may want to accept the seller’s countered price, and then have them reduce the price after you’ve had the home inspection.  It’s important to consult with your Ascension Parish Realtor to make sure that this counter offer “if it’s because of price” will appraise.  Have your Realtor® reach out to the seller’s agent to get a better feel for what the seller’s position is.  Are they selling because of financial hardship?  Or, did the sellers get transferred?  These could be great things to know if you’d like to counter the counter offer.

If all else fails, and the counter offers go flying back and forth, you may need to walk away.  You have heard the expression, “plenty of fish in the sea?”  Well, in the housing market new listings arise all the time and others go back on the market.  Don’t get yourself too wrapped up in a home where the sellers and or listing agent are unwilling to be flexible to get the deal done.

“Because YOU Matter”

Your Real Estate Whisperer

Kristina Smallhorn

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