Should You Counter a Homebuying Proposal?

by Andrea M. Flint-Gogek 11/17/2019

If you're on the fence about whether to reject or accept an offer to purchase, it is important to remember that a third option is available: submitting a counter-offer.

Ultimately, deciding to submit a counter-offer can be a tough choice for first-time and experienced house sellers alike. But we're here to teach you about the benefits of counter-offers and ensure you feel confident to submit a counter-proposal as needed.

Let's take a look at three tips to help you decide when to submit a counter-offer.

1. Assess Your Residence

Although the initial asking price for your house is not set in stone, you likely have expectations about how much you should receive for your home. But if a homebuyer submits an offer to purchase that falls below your expectations, you should assess your residence to help you make the best-possible decision.

Try to take an objective view of your home – you'll be glad you did. For instance, if you discover your home is one of many similar properties available in a buyer's market, you may want to accept an offer to purchase, even if it falls below your expectations. On the other hand, if you feel that your home is in great condition and you receive an offer to purchase that is short of your initial asking price, you may want to counter the proposal or reject it altogether.

2. Review the Housing Market

Housing market data can help any home seller make informed decisions throughout the property selling journey. There is plenty of housing market data at your disposal, and you should not hesitate to use it, especially when you analyze an offer to purchase.

Oftentimes, it helps to look at the prices of recently sold residences, the prices of available residences in your area that are similar to your own and other pertinent housing market data. With this information, you can gain deep insights into the housing market. Then, you can determine whether an offer to purchase falls in line with the current state of the real estate sector.

3. Work with a Real Estate Agent

There is no need to review an offer to purchase on your own. Fortunately, if you hire a real estate agent, you can get the help you need to perform an in-depth analysis of any offer to purchase.

A real estate agent is a house selling expert who will allocate the necessary time and resources to help you review an offer to purchase. He or she can provide a recommendation about whether to counter a homebuying proposal and explain the reasons for this recommendation as well. Plus, if you ever have concerns or questions about an offer to purchase, a real estate agent is happy to address them.

Should you counter an offer to purchase? The answer depends on the home seller, the real estate market and other factors. And if you use the aforementioned tips, you can perform a full evaluation of an offer to purchase and proceed accordingly.

About the Author
Author

Andrea M. Flint-Gogek

Andrea understands that buying or selling a home may be the most important – and sometimes the most stressful – decision of your life. But Andrea’s clients feel reassured that they receive the most professional, reliable and detail-oriented service, with personal caring and consideration.

A life-long resident of San Diego County, Andrea knows all the neighborhoods, though the focus of her 15+ years as a real estate agent has been East County, where she and her family – including a large extended family – all live. Andrea began her real estate career at Prudential California Realty, La Mesa office, where she received the Rookie of the Year award. After moving to Keller Williams, she received Top Producer award for several years in a row. Following two years of study and training, Andrea was awarded the California Association of Realtors’ Graduate Realtor Institute (GRI) designation, and later the Seniors Real Estate Specialist (SRES) professional designation for specialization in the needs of senior citizen property owners. She recently obtained the Accredited Buyer’s Representative (ABR) designation as well.

Andrea helps take the stress out of buying and selling real estate, instead turning it into an exciting and rewarding experience. Her professionalism, knowledge of neighborhoods and infectious enthusiasm will make your transaction a rewarding and memorable experience.