Sellers often counter with a full priced offer on a Windsor property for sale for a variety of reasons. Whether it is a seller’s market or a buyer’s market, some sellers believe that their home is worth the price and not a penny less.
So why do sellers counter at full price? What is their reasoning? Can a buyer hope that the seller will bring down the price despite their initial refusal?
1. Sellers are often in denial. They believe that their Windsor property for sale is worth much more than it actually is. Often times, it is difficult to persuade them otherwise. By bringing a list of comps to the bargaining table, in which you can show that the going price for similar homes in the neighborhood go for far less, you may be able to bring down the price.
2. Sellers also believe that if they counter at full price, the buyers will come back and agree. This does happen when buyers really want the home. Buyers can get emotionally involved in a home and sellers are hoping this is the case.
3. Sellers believe that buyers will counter their counter offer and they also know that they risk a buyer walking away from the deal. By telling buyers that they are serious with their bid, but they aren’t willing to walk away, they are hopeful that a more serious offer will be forthcoming.
4. Every so often, a seller will have a change of heart. At this point, this is when seller’s remorse happens. They don’t want to let go of their property at any price, let alone the offer price, so they counter with a full asking price hoping that the buyers will walk away.
5. Sellers who receive a lower offer soon after the house goes on the market feel that a better offer must be on its way. When interest is high, sellers will often wait it out to see if a better offer on their Windsor property for sale is forthcoming.
6. Sellers may feel that they received bad listing advice from their agent. When they receive a low offer, one that is many thousands below their price, they will blame their real estate agent for not marketing the property properly. Sellers will contend that their agent didn’t showcase the positives of their property, so they will counter with a full offer.
Unless you are willing to negotiate further, or if you have a definite price for a property that you are not willing to budge, then it’s best to move on. Rarely will a seller budge down to your original offer. If you aren’t willing to go much higher, then walk away.