A counter offer will be presented when the home seller agrees with the offer except for certain particulars. Some of the most common reasons for a counter offer include the following:
- Changing the possession or closing date.
- Asking for a higher price.
- Modifying time frame contingencies.
- Removing personal property from the offer.
- Asking for an increase in the money deposit.
Your Calgary real estate agent will be able to guide you and give you recommendations. He can bring another offer to the table and work towards getting you the best deal possible.
It is important to not think too long and hard about a counteroffer since the seller still has the chance to accept any other offers that come forward. Usually once an offer has been submitted and a counteroffer has been returned it is time to act with speed. Although you are making a big decision, you'll have to sit back and examine all of your options and make a logical decision fairly quickly. In some cases it's easy when the counteroffer doesn't stray too far from the original.
Usually the biggest problem to be dealt with is an increase in price when the buyers aren't sure whether they can afford the extra being asked for. At this stage of the game it's time to do some fast number crunching and come up with a yes or no answer. You can always counter offer with a lower amount and then cross your fingers again for a positive response. Hopefully, at the end of the negotiations, you'll be walking away proudly with your new home in Calgary.
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