Countering an Offer: Strategy & Psychology

Three offers arrived above asking. The seller, feeling the momentum of a competitive situation, countered the strongest one for more. The buyer, who had already stretched to get to that number, read the counter as confirmation that there was more room in the seller's position than there actually was

Evaluating Multiple Offers

Three offers arrived. The first is $2.31 million, all cash, twenty-one day close. The second is $2.38 million, financed, thirty-day close, with inspection, appraisal, and financing contingencies. The third is $2.35 million, financed, with the inspection contingency waived. The instinct is to rank th

Why You Should Price Your Home for Competition, Not Negotiation

Two sellers. Two adjacent properties on the Monterey Peninsula. Both well-maintained. Both priced within a few weeks of each other. The first seller listed at $2.45 million. Her agent suggested something lower, but she wanted "room to negotiate." She worked through six weeks with a single buyer, exc