It is frustrating when an owner of a Windsor property for sale won’t budge on the sales price of their home. By countering a buyer’s offer at full price, it is time to sit back for a minute, take a deep breath, and see what it is the seller actually wants.
Let’s take it step by step. While there are many homes that are worth full price, most sellers know it is risky to issue a full-price counter offer to the buyer, especially in today’s market. They know that there is an excellent chance the buyer will walk away. So why would a seller take that risk?
1. Sellers can be mislead. Many think their Windsor property for sale is worth far more than it actually is. Despite the fact that homes are selling for less in their neighborhood, sellers often see their property differently. With some sellers, they simply won’t budge on price. Your real estate agent can usually determine if such an offer is worth pursuing if you are certain you won’t pay full price.
2. Sellers change their mind: Though rare, it often hits sellers when they receive an offer less than asking price, that they are moving and they change their mind. They suddenly don’t want to sell their home at any price much less the full price, so they counter and hope the buyer will go away.
3. Home hasn’t been on the market: If a home hasn’t been on the market long enough, sellers will often wait and see if they get a better offer. Many are reluctant to take the first offer they receive, as they want to see what other offers may be out there. Sometimes this works out, but in buyer’s markets it often doesn’t. If you feel your offer is right, then you can take a chance and wait for 30 days to see if they lower the price. Again, this may be risky as the home may sell.
4. Bad advice: Sometimes a seller’s real estate agent feels they can get more money for a client and advise them to counter with a full price to see if a buyer will come up.
So, what can a buyer do? If you willingly made a low offer, then now is the time to step it up. A seller, who didn’t reject your original offer, is likely still interested in hearing from you with a better price. If you feel the seller will not budge, then keep looking at homes.